Monday, October 11, 2010
Gambling on real estate in Las Vegas
All of us have made decisions that have cost us financially. Real estate is one of the ones that has affected most of us in the biggest way. We ran across this article today that tells one couple's story about what happened when they decided to keep their home in Las Vegas after they were transferred by the military overseas. As you can imagine, there hasn't been another time to sell that house since they left Vegas - and now they're trapped.
It's a good cautionary tale. Remember, when you get transferred to another city, for the military or for any other reason, being a long distance landlord is never, ever ideal. It will likely cost you much more than it will net, and unless you're wealthy, don't try it. Here's the story.