Quote:
Originally Posted by DarkCircus
My sister is loosing her ass on her rentals in Michigan right now. She just applied for a short sell to get rid of one of them, because due to the crash, it's now valued at 60% of the purchase price from 7 years ago.
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Yep. Business partner (in porn company) is in the same boat.
He owns something like 30+ properties, rentals anyways (has car washes, and other shit), and he maxed out all their value/equity when the times were good.
So now, he has a bunch of property that has dropped in value, and he owes more then they are worth.