Clay Sparkman
Okay, so I was told that if I wanted to get more people to read my posts, I need to utilize attention grabbing headlines. (How am I doing so far?) Now I’d like to see a show of hands, and please be honest here, as this is purely for scientific purposes and the results will remain strictly private: Was it the headline that caused you to click on the link to this blog-post (if so raise your hand) or was it merely your overwhelming and insatiable lust for all things private-money-lending related? Uh huh … right okay … hey I believe you.
At any rate, I figured that this recent New York Times article would be of interest to any active private money and trust deed investors.
http://www.nytimes.com/2009/12/23/business/economy/23stripped.html
Fortunately, we haven’t seen too much of this sort of thing yet in our dealings at Fairfield. But then we haven’t had to foreclose on loans in Arizona or Nevada and only have one in foreclosure in Florida and that particular loan is a land loan. We’ve had a little trouble here and there, but nothing big. Greg Brown—a favorite musician of mine—used to talk about how folk musicians were different from rock musicians. He said that when folk musicians went on the road, there idea of trashing a hotel room was leaving the TV unplugged. I am happy to say that most of our borrowers thus far have been more the folk-musician-type. Let’s hope it stays that way. We wouldn’t want home strippers coming to a neighborhood near you.
— Clay (clay@privatemoneysource.com)
Tags: hard money investing, hard money lending, hard money loans, private money investing, private money lending, private money loans, trust deed investing, trust deed lending, trust deed loans
