[lively-kernel] Lesson from Real Estate
danhhingalls at gmail.com
Tue Sep 14 08:44:55 CEST 2010
Hi, Phil -
I'm not wanting to "renovate for over a year to great extremes", but I also don't want LK looking like a storage shed when potential buyers start walking through. I think that about a dozen tweaks by someone with good aesthetic sense would do wonders.
>I attended a real estate seminar this weekend. The speaker gave an example of a distressed property. The new owner purchased an apartment complex and renovated for over a year to great extremes. Build it and they will come. When the new owner finally re-opened the property, occupancy never materialized and the rate of return was negative. This property owner was not a traditional real estate broker. This property owner was an engineer.
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