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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 (25802)	12/10/2004 2:12:44 AM
From: John Vosilla	Respond to of 306849

What's that old saying if you owe the bank a thousand dollars you are in trouble but if you owe the bank a hundred million dollars the bank is in trouble. Guess he didn't have enough debt in 1989 to cram down and reorganize like Trump.. Watch him again as being a poster child of excesses in this next downturn. <When we were all about age 30 our friend drove a Ferrari and owned and managed $35 million in apartment buildings having started seven years earlier with no starting capital to speak of. We wondered how this was all possible. Our friend appeared frequently on Dave Del Dotto commercials promoting their scheme. Today at the age of 50 he rents a small shabby apartment from someone else and drives a used Geo mini-car. Before losing all of his buildings, he spent nine months in jail as a slumlord. He makes his "living" teaching scam techniques to others trying to prevent foreclosure of their home by filing multiple bankruptcy petitions and other skulduggery. He finds his clients by stapling flyers to telephone poles. How glamorous.>

To: Elroy Jetson who wrote (25802)	12/10/2004 9:44:47 AM
From: Oblomov	Read Replies (1) \| Respond to of 306849

I don't know if you are aware of this, but Del Dotto's latest venture is as a Napa Valley vineyard owner. He has acquired properties there and has a touristy "cellar" with barrel-tasting tours right on the Silverado Trail. I went there on my last visit to Napa, and I would say that the wines are VERY overpriced, but the tour and presentation of the wines was masterfully done. Good showmanship, and some of the wines are good. I see that Robert Parker has given some of the wines ratings in the high-80s to low-90s. Not a bad accomplishment.