Quote:
Originally Posted by downeaster
For those who haven't been following this refer to Janet Ruut's article here IRS Bond Issue from Janet Tutt
There are other threads about this, in fact it has been beaten to death.
As to the 8 mil/ 50 mil subject. The figures may or may not be accurate. However, property is sold and purchased based on potential income stream, not the cost of producing it. As a licensed broker who years ago struggled through the state real estate brokers exam, I am painfully aware of this. There is a formula for arriving at a sales price. I committed it to memory, passed the exam and forgot it.
I am not defending those actions but this is the way business is conducted. If the price paid was unjustly inflated I am surprised that some legal action hasn't been taken. Maybe something is in the works.
It would be nice if this was a simple subject. However is very complex. |
Downeaster:
Legal action was, in fact, taken. For more information, go to
http://www.poa4us.org/ Click on "Lawsuit Settlement".