All Forum Posts by: Tim Greenfield
Tim Greenfield has started 22 posts and replied 81 times.
Post: Fraud with our Birmingham turnkey property
- Rental Property Investor
- Wiesbaden, Hesse
- Posts 85
- Votes 32
Originally posted by @Doug Johnson:
Originally posted by @Account Closed:
Originally posted by @Jay Hinrichs:
I watched American greed last night.. and I am listening to this lady who put 1 million into a fund that promised to double here money guaranteed in 3 years.. all she could talk about was the greedy guys that lost all the money.. ( granted that's the case in all the American greed shows) But its also the greedy investor who really should have known better.. if they had not been so greedy they probably would not have lost their million buck aroos... LOL
I don't know this show, but I get idea. To me, there's something way less painful about losing $1M in 3 years on a bad investment risk......than a slow death on a $75K out of state rental. Presumably, the $1M isn't usually every last penny. The poorly performing $75K rental comes with stress and denial. I see a lot of people hanging on to a non appreciating, non cash flowing asset. 10 years seems to be the number when they are finally ready to bail and sell at a loss. I'd say its about 50/50 as to blame. Half of them make it about crappy tenants and bad PM and contractors. The other half have quiet shame and totally blame themselves. Neither is pretty,
After all the drama with TK in Birmingham, I have shifted my focus to buying apartments as part of an investment group. It is much more passive and has double digit cash-on-cash returns.
@Doug, How did you perform your due diligence and find an investment group you were comfortable with for investing in apartments?