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Home › Forums › Housing › Real Men of Genius: Mortgage Broker Mike Railey › briansd1 wrote:Here’s and

January 21, 2010 at 11:19 PM #504403
CA renter
Participant

[quote=briansd1]Here’s and update on the condo. About a $1/2 million loss in value.

http://www.sdlookup.com/Property-ED0C04C1-325_7th_2103_San_Diego_CA_92101#93769

Something is strange here:
The property was transferred by the owner to Boardwalk Development, Inc. which then listed the property.

Would be interesting to know who took a bath on this deal here.

Was there some kind of “engineered” transaction whereby someone’s buddy got a deal?

I’ll pull the transactions records when I have time. But perhaps someone will beat me to it.

Data from the listing:
Selling brokerage Prudential California Realty
Listing provided courtesy of Boardwalk Development Inc.

http://www.boardwalkdevelopment.com/Boardwalk_Development/Home.html%5B/quote%5D

Thanks for the update, Brian.

I’ve seen Boardwalk Development on some other deals (flips?) that were interesting. Not sure who they are or what they do, but they don’t appear to be “traditional” brokers.