Sold for $380,200, now appraised at $125,000: Investors helped ...

Sure looks like an awful lot of people have to learn some things the hard way.

I find it typical of the day in which we live that some of the investors are suing. No one was forced into buying these properties. The plain truth is that these people thought they could make an easy buck and got burned. I concur with the previous post.

This is one hilarious article. I am going to save this article to cheer me up on rainy days. It is just so damn funny. We need mor efool slike this to pump tax money into our economy. Thank you out of state investors.

It is amazing how many stupid, greedy, unscrupulous people there are in this country. Which group do you blame first, the slimy greedy real estate agents, the slimy greedy mortgage brokers, the slimy greedy bankers, or the slimy greedy investors. And now all these people who were so willing to screw over everybody for a quick buck have convinced our government that it wasn't there fault and they need a bail out. Oh how quickly I forget, the government is also full of slimy greedy people. Thank God we are a country founded on strong Christian Judaic principles!

GREED on all parties involved and I have no pity at all for them

__________

Such hard-luck investor stories echo throughout Central Florida.
__________

Not as much hard-luck as greed, pure and simple.

Richard wrote:

This is one hilarious article. I am going to save this article to cheer me up on rainy days. It is just so damn funny. We need mor efool slike this to pump tax money into our economy. Thank you out of state investors.

Why would someone else's pain make YOU feel happy? Perhaps you've made some bad investments and are happy to see you aren't the only idiot?

And good job making fun of out of state investors. You should be on your knees praying they come back to town so YOUR property value doesn't go completely in the crapper and YOU have to pay for the taxes you so gleefully think someone else is paying.

Boggles the mind...

Seems like everything worked out well for the guys who developed and sold the condos.

Gotta love an American success story.

Some time you get the Bull and some times the Bull gets you.
That is the ups and downs of life.

The people who bought these things as investments thought they were going to get an easy profit. Now they find they're losing their pants.

Somewhere along the way, these people forgot that they were never guaranteed any sort of profit to begin with. They made a gamble, they lost it. That's really not the rest of the world's problem.

I'm trying to garner some sympathy for them, but in fact, their clutching after some way to profit from their lousy decisions is affecting the ultimate profit from my investments, mostly 401k, bond, and stock investments.

Anyone that invests their life savings on property sight unseen at age 67 is STUPID!.
You never ever invest more than you can afford to loose. Stupid investments are what you do in our 30's not 60's.

Dumb, Stupid, or Foolish. Take your pick, investors; which one of them defines you best???

"The sales pitch
The story of how Orlando became a hot commodity for investors centers on developers marketing new properties to buyers across the country with promises of fast cash and rising real-estate prices."

A figment of their imagination turned into a story to sell overpriced homes and condos and the believed it bought into it. Sounds all too familiar.

there's a sucker born every minute.

garym1a2 wrote:

Anyone that invests their life savings on property sight unseen at age 67 is STUPID!.
You never ever invest more than you can afford to loose. Stupid investments are what you do in our 30's not 60's.

I guess he thought he was in Vegas.

Anyone that would buy an apartment conversion gets exactly what they deserve.

Bill the Cat wrote:

Dumb, Stupid, or Foolish. Take your pick, investors; which one of them defines you best???

They are all the above and you should include "Sucker"

happy wrote:

It is amazing how many stupid, greedy, unscrupulous people there are in this country. Which group do you blame first, the slimy greedy real estate agents, the slimy greedy mortgage brokers, the slimy greedy bankers, or the slimy greedy investors. And now all these people who were so willing to **** over everybody for a quick buck have convinced our government that it wasn't there fault and they need a bail out. Oh how quickly I forget, the government is also full of slimy greedy people. Thank God we are a country founded on strong Christian Judaic principles!

Well, we were founded by semi-religious people. But in our great world of increasing "wisdom" we have rejected our core values and moved over to rely on market factors and demand and supply to be our moral compass. God help us all.

So, who approved all these condo conversions and new home subdivisions??

MY Opinion wrote:

Some time you get the Bull and some times the Bull gets you.
That is the ups and downs of life.

I must disagree. This is America. Here lately, whether you get got, or you get over, there is always Bull in there somewhere. We have almost figured out how to package and can Bull by now. You watch, in another couple years you'll be able to get your Bull in either stick form, or in a non-breakable squeeze bottle.