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Old 12-06-2013, 08:14 AM
BlueStreak's Avatar
BlueStreak BlueStreak is offline
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Quote:
Originally Posted by Charles View Post
The costs of ownership isn't figured into the long term view?

Chas
I'm sure it is and that's part of the gamble. Of course the longer you hold it, the less return you will see.

The thing is this; No one is paying taxes on a lot of it now. Nor is anyone "mowing the grass" or anything else for that matter. It's currently a burden, rather than an asset, to the city. (Have you seen it?)

So, what costs are there? I don't know what it is, but it can't be much.

There was a segment on this on T.V. about a year ago. 20/20 or 60 minutes, something like that, I don't remember. Anyhow, they showed a guy going around buying properties for as little as $1. When asked what he was going to do with the $1 property, he said. "We'll be around to tear down the house in a few days. After that, I wait."

Dave
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