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To: John Vosilla who wrote (90212)	1/7/2008 1:08:07 PM
From: Tommaso	Read Replies (3) \| Respond to of 110194

>>>Meanwhile those who do understand finance etc and are highly educated have no clue or desire to hunt down distressed RE. <<< To some extent this has to do with age and energy level. Also, it helps if you are good at finding contractors, plumbers, etc., and in general dealing with and bargaining with people face to face. It can be a good deal of trouble to undistress and resell a distressed property. Even in the midst of the bull in real estate, in the last year or two, a guy bought a somewhat run-down house down the street from me--a 1920s bungalow--for maybe $130,000 (maybe less), redid the kitchen adding the usual stuff, redid the bathrooms, fixed and repainted everything, maybe at a cost of $40,000 and his own work, and immediately resold it for over $250,000. Do that twice a year and you have a decent income. To me, house painting is terminally boring and dickering with subcontractors is not particularly stimulating.

To: John Vosilla who wrote (90212)	1/7/2008 1:11:00 PM
From: Pogeu Mahone	Read Replies (1) \| Respond to of 110194

It certainly blows my mind. After discussing this for years and years these people do not get it.!It isn't a creative RE investment board<g> Your correct, I`m through. Some where over the rainbow is here 2008,2009. youtube.com BTW most RE agents will try to talk you out of buying at auction. They ask "How can you buy a property you cannot inspect? Easy adjust your bid for any and every possible fark up. I talk to good landlords all the time who would not consider wasting their time at auctions. Gotta love it. I posted a story about Harry Macklowe and he is up to his neck in debt yet he is reacting like it is another day at the beach. Soon to be someone elses beach.http://www.nytimes.com/2008/01/06/business/06harry.html?pagewanted=print This could hasten a CRE spiral. Thank you and back at you. ============================== Z you are fighting the wrong battle here. It isn't a creative RE investment board<g> I find it awesome most who are into RE investing don't understand finance or economics or even the message of the stock market. Meanwhile those who do understand finance etc and are highly educated have no clue or desire to hunt down distressed RE. Consider yourself a very rare bird...