haha, worst comes to worst, I will give up my lake home, seems like it is the only toxic asset I own that is not producing any, and it already lost 200k in value.
not just the rentals, all 5 legs of my businesses had come to a halt last 12 month. I have been cautiously preserve cash since beginning of 08, my income for 08 was down 50% compare to 07, and I'll be down another 30% from 08, don't expect I hit 200k this year.
this down turn in economy has cost me about 1.1 mil in net worth on paper, but again, I had nothing to start with, and I fell twice before, and each time, RE survived me, and I bounced back stronger than before.
not just the rentals, all 5 legs of my businesses had come to a halt last 12 month. I have been cautiously preserve cash since beginning of 08, my income for 08 was down 50% compare to 07, and I'll be down another 30% from 08, don't expect I hit 200k this year.
this down turn in economy has cost me about 1.1 mil in net worth on paper, but again, I had nothing to start with, and I fell twice before, and each time, RE survived me, and I bounced back stronger than before.
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