Greed

Money certainly can make people do funny things. I went to a Real Estate investment meeting last week that I was very excited about, only to be disappointed in the greed of the people who were making their pitch. They were looking to take advantage of 'newbie' investors. Offering them paltry returns on their money while they stand to make mounds of cash. '

The guy is trying to put together a large sum of cash from investors to purchase a portfolio of properties from a bank on discount. Problem is, he wants to keep 90% of the cash proceeds from the resale. He had the cash is the room and he blew it because he was greedy.

I am involved with a group in a different city (I'm in Chicago) who are operating on a similar plan but with an equitable cash split and people are really jumping on the bandwagon.

Meanwhile, my ventures are going well. The company is still in acquisition mode. There hasn't been a better time than now to purchase real estate in my lifetime. I think things will get pretty hairy over the next two years but people got to have a place to live.

I find myself in a rush to get things done these days. I guess I am impatient. Things are coming together nicely but I guess I want everything 'yesterday'. Anyway, I should have more good news regarding financing and possibly a new property by the end of the week. If all goes well we should finish two big deals in 90 days. 44Black is the Black Trump.

That's All I Got!
I'm Out!

44Black