Late or delinquent payers? - Posted by Tommy

wait for the books - Posted by Steve-WA

Posted by Steve-WA on March 26, 2006 at 14:37:59:

keep the cart and horse where they belong

Re: there’s the glitch - Posted by Tony Colella

Posted by Tony Colella on March 27, 2006 at 17:21:34:

Yeah but let’s take a look at what you just wrote. He invested in a “depressed, job-scarce area.” I suspect that was not the only mistakes he may have made but those alone are basic and bad.

I have known a few folks that have lost money on a deal or two but for the most part, each has privately admitted that they did NOT follow Lonnie’s system.

It is when we deviate from the system (to “tweak it for our area”) that we tend to fall victim to pitfalls we did not forsee or assumed would not hurt us.

Stick with the book and there is little risk. Can a park up and sell? Sure. But a bit of homework and the book can limit our exposure to most risks. Many of the natural risks such as buyers default are the means for more profit. Not too many investments I know make you more money when things go wrong. Yes, some things can hurt our deals but again, the book helps us avoid those pitfalls.

Tony