zhang104

@@@@@We spent two days with him showing him what we thought were excellent opportunities for cash flow and capital appreciation
My wife and I are not real estate agentsWe are strictly investorsAfter identifying a unit in a resort community, we called an agent who sold it to him that afternoonThe price was a mere $42,000 for a two-bedroom townhome Similar units were going for $65,000He had found a bargainExcited, he bought it and returned to Boston
Two weeks later, the agent called to say that our friend had backed outI called immediately to find out whyAll he said was that he talked to his neighbor, and his neighbor told him it was a bad dealHe was paying too much
I asked Richard if his neighbor was an investor When I asked why he listened to him, Richard got defensive and simply said he wanted to keep looking
The real estate market in Phoenix turned, and by 1994, that little unit was renting for $1,000 a month-$2,500 in the peak winter monthsThe unit was worth $95,000 in 1995All Richard had to put down was $5,000 and he would have had a start at getting out of the rat raceToday, he still has done nothingAnd the bargains in Phoenix are still here; you just have to look a lot harder
Richard’s backing out did not surprise me It’s called “buyer’s remorse,” and it affects all of usIt’s those doubts that get usThe little 1 chicken won, and a chance at freedom was lost
In another example, I hold a small portion of my assets in tax lien certificates instead of CDsI earn 16 percent per year on my money, which certainly beats the 5 percent the bank offe