The Gordons fear they will lose hundreds of thousands of dollars in equity…. We’ll have to live here eight to ten years before we get our equity back,” said Joe.
AND
Bob Taylor….. they didn’t think they would break even after the market turned south.
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WHY are people so fixated on “breaking even” ??
With $50K +++ a year in carrying costs, do they figure that they are even if they spend $500K over 10 years and then can sell for what they paid ??
I know that there are people still holding on to tech stocks, and after 8 years, still waiting to get even.
They don’t even know what the wash rule is.
MY Golden Rule: If ya cannot take it back for a refund, it doesn’t matter what you paid. It’s worth what it’s worth.
Not surprising that many property “investors” have never heard of a 1031 exchange either.
So many people are so out of their league.
Where’s Allen from Fallbrook ??
Would you let your Pop Warner kids play on a college team ???
I especially like the clarification of WHO Charles Manson is 🙂
