Re: The three PPP’s - Posted by JPiper
Posted by JPiper on February 27, 1999 at 10:46:29:
One of the conclusions I have come to over the years is that when everyone believes something wholeheartedly, it can’t possibly be true. These days when I hear a solid consensus of opinion, I look around for what might be wrong with it, what might be about to change. Location, location, location is one of those sayings that I don’t think holds water at all.
Here’s what location, location, location gives you. It gives you the best appreciation that your city has to offer. It’s an option on the future. This isn’t all bad?.but what do you do if there is no appreciation? I can tell you that I have seen some of the finest locations on earth go down in value at times?.it happens.
Here’s what I believe in?.price, price, price OR terms, terms, terms. You make your profit going into the deal. You don’t need appreciation, because you bought at a % of the market value. It’s only a question of when and how you wish to cash in your profit. This is called wholesale buying?.and has nothing to do with location per se.
My belief is that any property in any location can be a deal?.it’s just a question of price. But I’m all for perpetuating the location, location, location myth?.that’s what helps to create outstanding deals in all the less favorable areas.