My inner liberal meets his match

[burythehatchet]

Ths housing market is obviously a horrible situation for many, many people. I'm sure that many people are losing their homes or the equity they might have had in those homes.

Here's a philosophical question: Let's say that economically you're doing fine. Steady job, good salary, ample savings, etc.
What would you do if given the opportunity to invest in real estate?
Would you play the market and buy up distressed properties? One can make the argument that if you buy a pre-foreclosure home you are actually helping the seller. On paper that may be true but in reality it doesn't really feel that way.

So what would you do?

[Liberal Veteran]

1. I thought this was gonna be an eHarmony thread.

I guess to answer your question, you might have to look at each case individually.

[wtmusic]

2. Not conflicted on that one

Go for it. The seller wants your money, too.

[burythehatchet]

4. I have a genetic disposition against taking advantage of someone.

But I also see the financial opportunity of a lifetime. In the end, I will not do it. My upset stomach tells me its not for me.

[wtmusic]

5. Why do you see it as taking advantage of someone?

I really don't understand this. You are not responsible for their misfortune, any more than (possibly) they are, and would possibly be doing them a favor.

[YOY]

3. Would you help or hurt anyone if you took either route?

Would it hurt you or anyone else to invest? What if you did nothing?

I'm buying now. I can afford it and it's not from someone forclosing but an "investor" (slumlord) who bought up 10 houses between 2004 and 2007, rented them out and did no repairs on them, and now is hurting.

Do I feel for her. No. She was letting people live in conditions that need to get repaired under the "walk-through items" list. Those conditions could have killed the tenants.

She thought she'd "get rich quick"...welcome to reality...in realty. She's now 6 months behind in Taxes and needs to sell some of the poperties. I'll take one. At a good price. Now she can pay her taxes and pay off some of the other house problems.

[Regret My New Name]

6. Would you end up helping them if you bought it?

If so, then I don't see why you should have a problem with it. If you think you're screwing them over somehow, then obviously it would be a horrible thing. If it's the former, then look at it this way. If you don't do it then someone else will, and it may end up being someone who doesn't have as kind of a heart as you, and that person may end up doing something to harm them.

[ayeshahaqqiqa]

7. work with a non profit

that was taking distressed properties and refurbishing them to be use to house homeless folks, recovering addicts, etc.