Tuesday, September 4, 2007

Does anyone have a spare $5.5 million




This ten unit PoS was advertized on craigslist for $5,500,000. Craigslist is a great resource if you are looking for an apartment or a second hand car, but is it the best avenue for advertizing an investment property? The ad write-up smacks of desperation. Here is an excerpt from the write-up:

"There are so many possibilities you can do for this investment and you'll be a proud owner! Come get it while it's HOT!!! You can convert to TIC, condominiums,or whatever possible. It's time to make your money. Act fast and don't turn back and realize your BIG DREAM NOW RATHER THAN LATER!! People make money faster when they act because action is eloquence. "
Action may be eloquence, but inaction on this property is prudence. Keep away, I say. I dream of not losing any money on poor investments. That may not be a BIG DREAM, but I'm sticking with it.

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