MONEY ,MONEY ,OH HONEY
I attended MIT for 6 years so that means I know a lot about money . Just to clear up any confusion the MIT I am speaking of is the Medina Industrial Trade school. I studied high finance & advanced cyphering there.
The first rule of investing is you must understand your investment. That eliminates most investments for most of us. A law of coaching I followed was the KISS principle. That means Keep It Simple Stupid!!
If an investment is complex that is a cover to take your money .Those banks & lenders knew from the start that those buyers would not be able to pay. What did they care . The mortage companies had already sold those loans to other banks.
The Interest Only Loan & the Wrap Around Down Payment were tricks to get folks hooked into loans they had no chance to pay.
If the deal has fancy math that is a flashing danger sign. The more creative the math the more you stand to lose.
How would you like to build & develop apartment housing , & not pay any tax ? Don't think you can ! All you need is a P.I.L.O.T grant . Your taxes are waived & some other taxpayer pays the tab.
Check & see who are getting P.I.L.O.T grants from Shelby County. You might be surprised !