What are my options with my investment property?

[ropaint]

SBP,

The majority of rental properties in the United States are purchased by mom-and-pop type newbies who will rapidly fail.  That's  good news because it means that there is a market for your property.   Therefore, I would suggest marketing your property to these uninformed newbies. 

Look at all the financial aspects of the property (cap rate, IRR, Cash on cash return with a big downpayment, etc.).  These silly nonsense numbers can make a loser property look good to a newbie.  Look at the posts we see on this forum.  How many times have you seen a post like "this property has a cap rate of 8.2, what do you think?"  Market to newbies at your local REIA; with a newspaper ad; and on the internet.  There are millions of gullible newbies out there and all you need to do is find one.

Good Luck,

Mike

I couldn't agree more. How about an ad with the headline "Calling All Investors!!"

Someone makes a bad investment and your advice is to have him screw some new guy. You must be a lawyer or a realtor - aka scumbag.

[kdhastedt]

I've never rolled the dice on a property hoping that it would appreciate faster than I was losing money. Think about that concept for a moment and rethink my idiot comment.

Let's rethink the Forum rules instead:

Rule #1 - No Profanity or Name Calling - if you disagree, that's fine, but do so in a professional manner. This includes private messages and emails.

Let's not degrade to name calling...OK?

Keith
Moderator

[propertymanager]

ropaint,

I don't mind being called a scumbag, but a lawyer - c'mon, that's just plain mean!!!

Someone makes a bad investment and your advice is to have him screw some new guy. You must be a lawyer or a realtor - aka scumbag.

My advice is not to have him "screw" anyone and certainly not to say anything that isn't true.  My advice is to market the property to newbies.  Contrary to the popular socialist mentality, adults in this country are responsible for their actions.  They are NOT VICTIMS.  There is a CONTINUOUS stream of newbies in this country who want to get rich quick but are not willing to do the work to actually be rich.  Marketing to them is not unethical or immoral.

Good Luck,

Mike

[rookieNYC]

You must be a lawyer

Talk about my mother,insult my wife's cooking but dont call me a lawyer..

[mcprops]

Someone makes a bad investment and your advice is to have him screw some new guy. You must be a lawyer or a realtor - aka scumbag.

Scumbag eh? You'll run into plenty of them in this buisness. If you think marketing to a certain group of people makes you a scumbag, wait till you run into a real one.

[brockovich]

I apologize for my comments if I offended anyone