Forum Archive Index - January 2004

["Allan Potts" <ajp7079@excite.com>]

Dear Mr. Thomas,

I'll be happy to put in my two cents worth.  Prior to that, I should probably 
give you some background on my real property experience, so you can gage the 
validity of the two cents worth.

I started to invest in real property in my early 20s, as a complete novice, in 
order to supplement my working income.  Much later on in life, after I had made 
some very good money in these real property investments, I obtained a real 
estate salesman's license, later on a real estate brokers license and after not 
doing so well at that took up real estate appraisal.

I eventually was awarded the MAI designation in real property appraisal where I 
was deemed qualified to appraise just about any   property from real property 
easements to skyscrapers.  I did both and many in between and retired at the 
age of 55.  The MAI designation is considered to be the highest real estate 
appraisal designation in the U.S.  Equivalent to the CPA in accounting and   
perhaps similar to your Royal Chartered Valuers (as I understand it)

OK, having said that, my experience has been that you can make the most money 
by buying and managing the real property yourself, providing you have a flair 
for it and are willing to work hard at it as almost a second job.  I did very 
well at it and count my real  property investments as the best investments I've 
ever made.

Now however, since I'm retired and we do much traveling and I've limited myself 
to real property shares.  Nowhere near as much money, however, freedom to 
travel, less headaches, aggravation, government interference and day to day 
bother.

Another option, which frankly I've never pursued, is to find a very competent 
and honest broker to manage your  properties I'm thinking of 
commercial/industrial here)  Since I've also spent a lifetime in the share 
markets and all during that time found only one share broker who know what he 
was doing, I don't know how successful this option might be.  No opinion one 
way or another  on this, but certainly an option to be considered.

Good luck to you in you real property investments, no matter which way you 
choose to go.

As an aside, did anyone read my "Misleading hit piece on George W"  post or did 
the supposed attachment, which really wasn't an attachment scare you off from 
opening it?  It actually was not an attachment took me 3 hours to produce and 
was indeed safe.

Allan




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