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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 375.93-1.8%Nov 14 4:00 PM EST
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To: John Vosilla who wrote (113641)9/28/2015 8:11:36 PM
From: Elroy Jetson  Read Replies (1) of 217764
 
We know a real estate broker who collected ownership of 68 homes in West Hollywood during the real estate boom which ended between 1989 and 1993. By 1996 he had lost all of them to foreclosure, including his own home. To end up with nothing, all he had to do is live extremely frugally for 15 years working long hours as a real estate agent while managing his 68 properties.

Instead of temporarily owning 68 homes, he could have enjoyed leisurely vacations on this tropical island


In 2002 my housekeeper who I paid $50 for a days work, together with her low-income husband, owned four homes in Los Angeles. Not bad with a total income of $25k annually and two girls to raise. They took advantage of the post-9/11 liar loans which charged only 1/4% more in order to obtain a loan without documenting your income or assets. By 2009 they were trying to hold onto their own home after losing the other three.
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