Or, counting chickens before they hatch!

I took over an existing loan of 1979 US $32,000. Used my entire inheritance from my mothers father - just $8,000 (his fortune was split over somewhat less than an infinite number of descendants - the family was Catholic - and he lived to a ripe old age) to buy out the loan.

The then owners, the Cherrys, immediately filed bankruptcy, which put the property at the mercy of the court for a few months.

During those months the real estate lady, who had been unaware of the property until I picked it out of her book (they didn't have computers in those days), tried to talk me out of it, promising to completely refund my deposit (submitted the moment I saw the property). She had a lot of developers on tap who would have (with a few intermediate changes in title), provided her with far more in commissions and other profits.

"Life is not fair". That saying works both ways, and somehow, through no virtue of my own, I keep landing on the right side of "unfair". Not a whole lot, but enough to get by.

Post #392,388 by a6l6e6x 7/25/14 3:46:16 PM Reply	Or, counting chickens before they hatch! I'll be trying to sell a house in Charlotte for 3-4 times what I paid for it back in 1979. Accounting for inflation and after closing costs, it's probably break even. Alex "There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge." -- Isaac Asimov
Post #392,394 by Andrew Grygus 7/25/14 4:56:55 PM Reply	Fortunately, I'm sitting pretty. I took over an existing loan of 1979 US $32,000. Used my entire inheritance from my mothers father - just $8,000 (his fortune was split over somewhat less than an infinite number of descendants - the family was Catholic - and he lived to a ripe old age) to buy out the loan. The then owners, the Cherrys, immediately filed bankruptcy, which put the property at the mercy of the court for a few months. During those months the real estate lady, who had been unaware of the property until I picked it out of her book (they didn't have computers in those days), tried to talk me out of it, promising to completely refund my deposit (submitted the moment I saw the property). She had a lot of developers on tap who would have (with a few intermediate changes in title), provided her with far more in commissions and other profits. "Life is not fair". That saying works both ways, and somehow, through no virtue of my own, I keep landing on the right side of "unfair". Not a whole lot, but enough to get by.
Post #392,396 by a6l6e6x 7/25/14 5:21:03 PM Reply	I don't look forward to dealing with real estate folks. Yours should be on your side, but one never knows what else is on their agenda. Alex "There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge." -- Isaac Asimov
Post #392,412 by drook 7/26/14 8:45:22 AM Reply	The only side they're on is closing the deal They don't make shit on a deal that doesn't close, and their time is worth more than another 2% on the price of YOUR deal. -- Drew

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