You have a axe to grind with investors, because they have squeezed inventory and forced up prices, yes?

Axe to grind? No. They haven’t forced prices up in suburban NYC area much, where I’m looking now and hope to buy this winter. Delayed judicial foreclosures are awesome, and here’s to Chris Christie and two more years of mismanagement in NJ!

I actually LIKE people who are unwilling to get their hands dirty or are mechanically challenged, though I’m also contemptuous of them. More of a chance of them getting in over their heads, running out of money, and my seeing their properties at the fork-loser auction or being nudged into short sale 🙂 I don’t care if they’re willing, unwilling, or barely willing investors.

Same deal as with cars or motorcycles, BTW. A few years ago, I saw an ad for a nice bike, non-running, offered for about 50% of the price it would be in running condition. Owner said that he’d cleaned the carbs, couldn’t get the bike to start, and was throwing in the towel.

Went there to look at the bike, was interested. Paid him his asking price, signed over the title, then came back with a plate. Rode it home — problem was that he’d forgotten to re-connect the vac line for the fuel valve to the nipple on the valve. 30 second fix. (But I was fully prepared to rent a truck if it didn’t work and bike still didn’t start.)

Rode that bike for a few years, then sold it for about 250% of what I paid. Free motorcycle and then some!