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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (3784)	7/31/2002 6:54:20 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

>>But easy money is essential to making this happen. Ordinarily a fool willing to pay these multiples of rent will not find a lender willing to lend. Today they can - no problem!<< exactly.. pony up more of your hard earned $$$$$ and see what happens.... always soooooo much easier to take "risk" with OPM.

To: Elroy Jetson who wrote (3784)	8/1/2002 11:20:10 AM
From: GraceZ	Respond to of 306849

That's scary. Condos don't hold up very well in a rout, they are the first to go because rents collapse. My rule about investment property is you never chase. You buy it when no one wants it otherwise you wind up paying a lot of money for a tax loss vehicle. About five years ago a friend called me to ask my opinion about buying some residential investment property in the city. He knew I had properties and he wanted me to tell him how great it was to be a landlord and how houses in the city were such a great deal. I told him you couldn't give me any more houses in the city and I'd be selling mine if I could get anything for them. I told him that rental properties were one of the worst investments and he shouldn't be throwing his money down the toilet on it because the city was going to hell. End of story, he did it anyway and needless to say, that conversation marked the exact bottom and has been well rewarded for going against my advice. The great thing about rental properties is that if you miss an opportunity, there's always another one coming up.