Hi to all!

First off I would like to introduce myself. My name is Dmitry and I have been a registered member here for a long time but never ever posted. However, my first post is about a problem I have been dealing with this past year and a possible investment oppurtunity for the right person. If this is considered solicitation, Mods feel free to delete as I do not want to break any forum rules. But if I may, I ask you to read it before you make judgement.

Roughly two years ago my parents made an investment in some luxury condos in the Trump Tower Phase 1 being built in Miami on Collins Ave. The two properties were going for $1,000,000 and they put 20% down on each with the hope to flip the properties before even having to have to close on it. With the recent slump in the Mortgage industry their chances of acquiring a loan or even paying for one are slim to none. They invested their life savings that they built up living here in America for 18 years and now are going to have to forget all about it.

All they want to do is give the property away and recoup their down payments. The estimated equity in each property is close to $250,000. This is being derived from the fact that they are selling the Phase 3 third tower condos for anywhere to $1.25 to $1.3 million. They want nothing on top of their deposits, nothing. If anyone here is interested or knows anyone looking for something like this please let me know.

Thank you for reading and if anyone has any advice, I am all ears.

Dmitry

 

I wholeheartedly agree with you. I was against it and they were hesitant but never the less bought into it. Definately no one expects a bail out of any kind. But if someone is willing to invest their money, there is a supposed promise in those towers because the phase three towers which arent near completion are preselling for something like $1.5. They have come to grips with the loss, but I figure it doesn't hurt to maybe try to turn this around. May I ask how old you were when you started investing?

Everyone thank you for the kind words and the welcome!

 

Thank you.