Quote:
Originally Posted by HardDrive
............duplexes in Detroit.
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A client of mine owns some buildings near the old Tiger stadium location. Gated secure parking, nice condos/apartments, dumped some money into them.
He cannot get anyone to live there at the prices he needs to break even, and cannot get out of it without major losses.
Same client ran into similar problems with a motel up north.
Location, location, location?
He owns at least a dozen properties, making things work where others would just run away.
Gotta average your gains and losses, and in the end he's ahead.