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We are back for another edition of “Story Time With Gary.” This is another true story that’s happened to me over the course of my real estate career.
Years ago, my brother was interested in investing in real estate and was looking at a place called “Mile High Duplexes.” He sent me the brochure. I took a look at it and told him that there were some things missing. They talked about how you could get such a great return on investment with these duplexes, but they didn’t detail any expenses, such as property taxes, property management fees, and other things.
“At least he was honest, right?”
I told my brother to come by my office, and I gave the sales office in Colorado a call. I talked to the salesman about the missing expenses in his brochure, and this was his response: “If we included those, no one would buy the properties.”
At least he was an honest guy, albeit in a dishonest way. Or maybe he was a dishonest guy in an honest way. Needless to say, my brother did not move forward with this purchase.
If you have any questions for me, don’t hesitate to reach out by giving me a call or sending me an email. I look forward to hearing from you.