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Non-Tech : Investing in Real Estate - Creative Opportunities -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (1946)	9/26/2013 11:45:32 AM
From: Road Walker	Read Replies (2) \| Respond to of 2722

Oaktree, which specializes in distressed investing, and Carrington had initially planned on converting their portfolio into a real estate investment trust. But investors have now decided to simply exit the trade. Their asking price for the portfolio could not be learned. If they can't offer it to the public, chances are there is something in the books that doesn't look so good. Totally anecdotal, a handyman/contractor we use told me he was offered a huge sum to work for one of these investment groups, maintaining the houses. 2x+ what he makes on his own. The word out there in the contractor world is to overcharge these groups to the hilt, that they are jerks and a pain to work with. He's a serious Christian guy and didn't feel right about it so turned it down. This is a guy that I usually pay him about 30% more than he invoices as I think he's worth it and doesn't charge enough. He can do ANYTHING and I have no problem giving him the keys and leaving town. I just feel like the whole hedge fund residential thing is a house if cards. The business doesn't lend itself to mass volume. Too many grey area details spread over too much geography, no two situations alike, no two tenants alike. It just doesn't scale.