3D ANIMATION MOVIES

1. First, a landlord acquaintance of mines, lost his lovely four unit building to foreclosure. At first, I was shocked, and saddened. His building was right next door to my unit. But, sadness turned to anger, and then to sadness, and then to anger, and finally settled back to sadness. Why? Well, it does not surprise me that this landlord lost his building. He truly did not understand what he was getting involved with when he bought the unit. He and his then girlfriend bought the building together for well over 500k, putting close to 100k down for the downpayment. He bought when the market was riding high, and I am sad to say, he overpaid for the building. At first thought, I knew the numbers would not work, not at that price. I buy buildings that only produce positive cash flow at the end of the month. Paying too much for a building, and then not have a positive cash flow situation, spells out a disaster for failure. Secondly, he was a terrible property manager. He showed the correct initiative by getting all of the units updated, with new carpeting, marble counter tops, dishwashers, etc. I actually thought he was gonna make me look bad by installing marble countertops, etc. Which at the time was a silly idea anyways. He only showed up to the property only when he had to. He was slack on his rent collection. The Tenants soon took control. It was like the movie animal house all over again. I had reached out to him, offered my assistance, told him what I thought he had to do, etc. But, he politely took my advice, but did nothing to implement any changes. Unfortunately I had to call the police on a few occasions to have them tell a few rowdy guests to pipe it down, or else. He hated confrontation. I wondered how long he would be able to stay in the game, before losing his mind due to undue stress.

2. Secondly, I was amazed that he did not try and reach out to me further. I had thought to myself on a few occasions to talk to him about letting me know if he would have any intentions on selling the property, but he was a very proud kind of guy, and I knew he wouldn't provide me that information. The property eventually sold, via the foreclosure process. It sold for 0K! I was so upset. Fiddlesticks, I could have placed a bid on the property if I knew what the situation was. By the time I got word of the foreclose pending, I called the lawyers office handling the case, and they promptly forwarded me over to the listing real estate office. Before a "for sale" sign was posted on the front lawn, the real estate agent already had someone lined up for a purchase. See folks, in a situation like this, time is of the essence. The minute the foreclosure process started, the clock started ticking, and all kinds of signals are set off, and opportunistic investors gravitate to situations like this. The lawyers office probably already had a buyer before it even got to the agent. At 0K, with even a 10 percent down payment, that lucky landlord will be pocketing a cool 00 mo positive cash flow, providing he can rent the units at market value.

3. Well, an opportunity was lost. I finally got the nerve to call the prior landlord and asked him what happened? He said it was too overwhelming. He could not take it anymore. He had just gotten married to his girlfriend it was causing a lot of undue stress on their marriage. I told him I wished he had contacted me. But he honestly said he was embarrassed, because he know I tried to help him, and he had felt like a failure. Failure or no failure, he threw away about 0k of hard sweat cash money on the building, in the form of the down payment and improvements.

And since the market had corrected itself, he had no equity, so, he just walked. Well, he will be fine, but, damn, I still haven't gotten over this lost opportunity. Have you ever lost an opportunity like this? If so, please share them with me.