KUDOS! NYT Reports HOW Holding Real Estate Investments CAN Be a BENEFIT!

By
Real Estate Broker Owner with Gibson Management Group, Ltd.
http://actvra.in/G9v

I hope you will read the entire article from the NYT on how Mitt Romney invested in 5 rental homes in Texas in the 1980s * one each in the name of his 5 sons.

He was caught in the down-turn of the 80s so elected to rent the homes and ultimately sold one to the Stampses who have been paying him interest on his "owner financing" so that their names now appear on his tax returns as he receives INTEREST from them on their mortgage payments.

http://www.nytimes.com/2012/08/10/us/politics/in-real-estate-deal-romney-made-his-loss-a-couples-gain.html?pagewanted=1

My point is that MITT made a bad investment in TX real estate and rather than crying and finger pointing, he CREATED the opportunity for his renters to OWN their own homes and he took his INVESTMENT returns over 15+ years by way of the mortgage payments to his renter/homebuyers.

He CREATED an opportunity for people to OWN THEIR OWN HOMES!

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  1. Steve Hoffacker 08/14/2012 07:44 AM
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Topic:
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Investing in Real Estate
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homes for rent
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rental property management
mitt romney
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Comments 15 New Comment

Ambassador
1,892,837
Steve Hoffacker
New Home Sales Trainer/Coach, Sales Books Author
Hoffacker Associates LLC

Wallace,

Excellent story. Glad you were able to share this. :)

Steve

August 14, 2012 07:42 AM
Rainmaker
790,722
Tim Lorenz
949 874-2247
TIM LORENZ of Keller Williams Realty

Wallace

This is the difference in a man of character and people who have none.

August 14, 2012 07:49 AM
Rainmaker
320,458
Yolanda Hoversten
Broker - O Fallon, IL Real Estate
Prudential One Realty Centre

@Steve - Agreed. It doesn't help the country because it makes us all unnecessarily cynical.

August 14, 2012 11:53 AM
Rainmaker
1,161,096
Gene Riemenschneider
Turning Houses into Homes
Home Point Real Estate

Other people might have just blamed the problem on George W. Bush.  We should elect a guy like that President.

August 15, 2012 03:43 PM
Rainmaker
1,054,979
Wallace S. Gibson, CPM
LandlordWhisperer
Gibson Management Group, Ltd.

Dems are saying these guys are wealthy and while they may be....they got that way by themselves....Few know that Romney gave the money left to him by his father to CHARITY and started over...so did Bush 41...he started an oil comany from SCRATCH

August 18, 2012 03:59 AM
Rainmaker
1,054,979

Wallace S. Gibson, CPM

LandlordWhisperer
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