$PSGR Once upon a time there was a house in the middle of nowhere that went up for sale. The Owner said that the house came with several other properties that might provide additional income for the new owners if they had the patience to wait for some 'things' to happen.
The Realtor was contacted by an individual who didn't really spend too much time researching why the house had sat on the market for over two decades while no improvements were ever made to the house. The Realtor told the individual that there were on-going Owner studies to determine what needed to be done to improve the value of the house and make it more attractive to buyers. The individual noted that the house remained pretty much the same over the two plus decades and that, while the value of similar houses had more than quintupled over the years, this particular house remained almost worthless. The Realtor told the potential buyer that the owner had initiated studies to make a lot of improvements in a fairly short period of time IF the buyer would simply wait but... "NOW is the time to buy". After all, the owner had several other locations that were under development and could potentially make this one property very attractive to future buyers.
The buyer thought long and hard about investing his money in the old, run-down house. The individual knew it was beyond high risk. After all, no one had done anything with the house over a period of TWENTY PLUS YEARS. The house was always being advertised as 'real close to being turned into a profitable and beautiful mansion' but this never even came close to happening. The individual wanted to invest in the potential of the house...decades of nothing were not considered because the individual thought the house could turn into something very profitable with some work. The individual believed the current owner was providing a great opportunity.
Unfortunately, the buyer did invest hard earned money into the house. The individual waited and waited and waited...but the former owner did nothing at his other locations to make those properties more profitable and, in turn, make this house increase in value. The individual now owned a house that was worth less than was paid for it. Considering Real Estate typically increases in value, the individual called the real estate agent and asked why this house was pretty much worthless after all of this time.
The real estate agent told the individual "The house was always a worthless piece of crap and through all the years, nothing improved because the former owner knew that he could make money by simply getting people to invest in 'potential future wealth'...renting with an option to buy....but not actually living in the rundown building. When you bought it, he made a nice profit. In your case, you knew it was a worthless piece of crap when you bought it...but you bought it anyway."
CAVEAT EMPTOR....make sure the house you are thinking about buying has not sat on the Market for decades while nothing was ever done to improve its value. If it looks like worthless crap, smells like worthless crap, and feels like worthless crap....you know what it truly is!
ACTIONS AND RESULTS!!! NO MORE BS!!!
The Realtor was contacted by an individual who didn't really spend too much time researching why the house had sat on the market for over two decades while no improvements were ever made to the house. The Realtor told the individual that there were on-going Owner studies to determine what needed to be done to improve the value of the house and make it more attractive to buyers. The individual noted that the house remained pretty much the same over the two plus decades and that, while the value of similar houses had more than quintupled over the years, this particular house remained almost worthless. The Realtor told the potential buyer that the owner had initiated studies to make a lot of improvements in a fairly short period of time IF the buyer would simply wait but... "NOW is the time to buy". After all, the owner had several other locations that were under development and could potentially make this one property very attractive to future buyers.
The buyer thought long and hard about investing his money in the old, run-down house. The individual knew it was beyond high risk. After all, no one had done anything with the house over a period of TWENTY PLUS YEARS. The house was always being advertised as 'real close to being turned into a profitable and beautiful mansion' but this never even came close to happening. The individual wanted to invest in the potential of the house...decades of nothing were not considered because the individual thought the house could turn into something very profitable with some work. The individual believed the current owner was providing a great opportunity.
Unfortunately, the buyer did invest hard earned money into the house. The individual waited and waited and waited...but the former owner did nothing at his other locations to make those properties more profitable and, in turn, make this house increase in value. The individual now owned a house that was worth less than was paid for it. Considering Real Estate typically increases in value, the individual called the real estate agent and asked why this house was pretty much worthless after all of this time.
The real estate agent told the individual "The house was always a worthless piece of crap and through all the years, nothing improved because the former owner knew that he could make money by simply getting people to invest in 'potential future wealth'...renting with an option to buy....but not actually living in the rundown building. When you bought it, he made a nice profit. In your case, you knew it was a worthless piece of crap when you bought it...but you bought it anyway."
CAVEAT EMPTOR....make sure the house you are thinking about buying has not sat on the Market for decades while nothing was ever done to improve its value. If it looks like worthless crap, smells like worthless crap, and feels like worthless crap....you know what it truly is!
ACTIONS AND RESULTS!!! NO MORE BS!!!
