Posted by Sean on March 04, 1999 at 19:01:59:
…it’s the fourth, and all the rents are in, except for some guy who bounced a check on me. The bank charges me $10.00, I charge him $25.00.
I love bounced checks. I love tenants who don’t pay on time and all the yummy 6% late fees they pay me. Do you realize that someone who is late 15 days and pays a 6% late fee for that is paying you 355% interest a year? That rules.
While I’m here, I thought I’d just take time to talk about two topics real quick: Hypocrisy and creativity.
There are some people on this site who are hypocrites. They’ll buy a property no money down in a shot, but sell one no money down? No way, that’s bad for the seller. Too risky, practically flushing money down the toilet. Are you crazy? Not bloody likely.
I suppose we must give these people a certain grudging applause for being able to (as they believe) swindle people into accepting deals that they are convinced, in their heart of hearts, is truly bad for them. I could never successfully persuade someone to do something that I believed was foolhardy, needlessly risky and practically “giving away” their money but to those who can and can look at themselves in the mirror afterwards, congratulations.
Secondly, let me say that I love creativity. This site is, supposedly, devoted to “creative” real estate. One would imagine that with all these creative minds at work that one new, imaginative idea would emerge every day. Unfortunately too many of us are “cookie cutter” dealers. We just learn from the creative people who post articles, and write courses and endlessly repeat their formulas.
There’s nothing wrong with doing that, after all, these guys have provided us a lot of help. Their ideas work, and they make it possible for us to earn a lot of money. I’m not about to come out against earning money, no sir. I’m personally hoping to earn quite a bit of it myself. But, I just wanted to take a moment and give a salute to those people on here who have posted new ideas for me to sift through. Thanks a million.
Keep on creating.