Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: David Jones who wrote (25828)	12/10/2004 4:37:13 PM
From: Elroy Jetson	Respond to of 306849

It's no mystery how my friend, fallen in with the get rich quick in real estate guru, lost the 68 apartment buildings or how he ended up in jail as a slumlord. It's called insufficient equity, or as the guru put it "no money down". This serious problem could have been solved by bringing in partners, and the failure to bring in partners is called greed. Many others, in addition to myself, have repeatedly urged him to use his real estate experience in a more productive way. Something more useful than stapling fliers to telephone poles saying "I can keep your house out of foreclosure" but actually meaning (through bankruptcy abuse and fraud). But he claims to be happier than he's ever been living the simple life and "helping" people who are being "mistreated" by banks. Who would have guessed that a bank would be so abusive as to want their loans repaid? I discount his claims of happiness somewhat as he has gained an extra hundred pounds and looks like the Pillsbury Doughboy, but he's adamant about what he's doing and there's no persuading him otherwise. The experience seems to have permanently marked him. .