Saturday, January 23, 2010

Passions and Sins

For some in Real Estate, Money is their passion. More Money, More Money! Buy this horrible little house that should have been condemned so you can make Money and More Money!!! Your tenants will just tear the place up anyway, right? So put as little Money in as possible, and reap the cash. When it finally is too torn up to fix any more, walk away. Neighborhoods that were once decent start to disintegrate. The abandoned houses attract vermin of all sorts, and the cycle starts again on another house nearby until the property values in the area have long since ceased to exist.
Making Money is necessary for continuing and growing any business. But, if a landlord takes care of their rentals, screens their tenants and tries to keep property values up by making sure the property is taken care of properly, the asset is more likely to perform well for a longer amount of time. This means more money over a longer term.
Most of us want less government in our lives, as governments tend to charge money (taxes) for their services. So how do we keep our assets performing well while the houses nearby crumble and the vermin fight over territories? Self-governance is the only answer I can see. Property owners helping other property owners.
But I don't have all the answers, even though I now write a blog. So I'd like to hear from everyone what you think.

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