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Show REVIEW. July 14. 1966 Why Not...? FAN-OU- T beach and camping cabana CAR MAY BE DRIVEN AWAY LEAVING CABANA IMTAcr fflENCH ADJUSTABLE EXHAUST V ns n. s v Avs , .a - v x vn PREVENTS FUMES FROM m .' Elegance for Rent' v' A v Enjoy ENTERING LIVING AREA WATERPROOF folds CABANA INTO COMPACT ON ROOF OF C AZ Constructed of aluminum I Ll AND WASTI'GIASS IN VARIOUS COLORS -- A PART OF CABANA IS OPAQUE, PROVIDING SHADE AND? A PART TRANSPARENT FOR SUN the atmosphere and old world elegance of French styled architecture ....and Swimming Pool Beautiful Courtyards Individual Steam Bath Air Conditioning Luxurious Kitchens by WHATS YOUR PROBLEM? Mr. Westinghouse ( ;;F Rental Rates , Studio Apartments 95 to Ml 9 I If One Bedroom Apartments fi .s I! ;. I?: r; II Meltzer On Real Estate By the law of averages, even the most astute professionals at times make poor real estate Investments. The question is often asked, "What does one do when he finds he has made a poor investment?" This rather embarrassing question requires a frank answer. Dear Mr. Meltzer. a twelve-un- it apartWithin a month I knew I had made a mistake. The actual operating expenses were higher than anticipated. Worse yet, the building needed considerable repairs. Instead of showing a profit, my investments will bealosing proposition. I should have investigated and not acted on Impulse. Surely, I'm not the first person who has ever made a bad investment in real estate. Im I bought ment. sure you know of many similar situations. What do real estate professionals do when IN HOLLAD. at 2200 East 4800 S)tyth Telephone 278-3U- 3 they make poor investments? Mr. B. R. Answer Pqor Investments by professionals are not uncommon. As a rule, however, they make fewer mistakes. The question calls for a frank The answer below reply. gives a common method used in disposing of poor investments without passing judgment on the ethical or moral issues involved. The first step is to hold the property for a reasonable time, usually a year or longer. During this period, statements that the property is an excellent investment will be spread around. After that it Is offered In the market at a substantial profit. Among the reasons given is that the owner is ill, has other business interests, or something similar. The property is held for at least a year or more because a property Imreoffering mediately after purchase will make the buyers suspicious. Even though it is a poor investment, the new asking price cant represent a loss it must contain a profit. It has been found that buyers show great interest in properties whose prices keep going up and up. Offering a property at a loss has found to be an excellent way of killing interest in almost all potential buyers. Dear Mr. Meltzer: Last year I received in the mail a beautiful colored brolots chure offering with stately trees in a park1 like setting tor $4900. one-acr- es boughtl During my vacation this year, I visited my lot and found an old lava bed in an inaccessable, barren wilderness. I contacted a realtor in the nearest town and asked him to sell it. He informed me that the land was worth- less and would bring less than the cost of preparing a deed. Ive been defrauded! Whom do I go after and how? Mr. D. G. Answer: The above is published because it is typical of a continuous volume of complaints. In this case I personally checked and found that the selling company is no longer in existence with no trace of any of its officers. There is no one to go after. Even if there were, the chances of recovery are extremely remote. The best advice I can offer at this late date is for you and others in a similar situation to forward their complaints to the postal authorities. At least it may prevent others from being taken. (Continued on page 6) |