Replies to post #459053 on Tornado Alley (PROG)

[arizona1]

I thought treason was the right charge for Trump

Well, that explains it all, right? Now fix everything else in the country that you're forever bitching and blaming democrats for. From inflation to education to Social Security, Medicare, immigration, foreign policy, climate change, homelessness, property insurance, drug addiction, air pollution, cancer and every other damn thing you don't fucking understand.

And while you're at it, why don't you explain why West Virginia is the 2nd biggest welfare state in the entire country? You've voted for Joe Manchin in EVERY election and he's responsible for keeping you "dirt poor" except for your own personal failings.

[Zorax]

Man, your dumbass announced his candidacy 2 and 1/3 years early, never ever been done before. Because he's scared to death of going to prison for just abut everything. Polls 2+ years in advance don't mean a damn thing. Meaningless. Polls themselves no matter who does them are also slanted and meaningless and have always been that way.

About as meaningless as the stupid app TS.

Your pals made sure he wasn't charged with impeachment, which would have ended his tenure, YOUR GUYS..all of them. Don't come back blaming the dems for something they aren't guilty for. Your fucker manchine still fighting the good fight for coal in your state. He's been quiet lately, working the back of the room as a fake dem. Him and sinama...

So never forget it's your heros munchkin and mitch who let him off TWICE to carry on his insanity. With no malice I say shove your dem guilt baloney up your ass.

There's no way I can do party talk with you, I'll just stick with scam stocks we used to agree on.

So if you get all defensive and huffy and want to leave again, that's fine, but take your little tag team friend 12high with you this time.

[fuagf]

B402, Defends fraud by saying every developer does it. B402 also gets his jollies by saying all those working to hold Trump to account under the law are fools. B402, the phony independent, the morally and ethically superior to all on this board. fails again. To your video:

Let’s break this down. Kevin is right in that people who own real estate ordinarily want it to be worth as much as possible. This is true for individual homeowners and it’s true for large real estate companies. And there are various reasons for this. One reason is that it maximizes your debt proceeds. For example, if you buy a building for $100 and the banks are willing to give you a loan based on a LTV (loan-to-value) of 70%, then you will get $70 in debt proceeds and you will need to put in $30 of your own cash equity.

However, if you buy a building for $100 and it ends up being worth ~$143, then this same 70% LTV will result in $100 of debt proceeds. This means that you won’t need to put in any of your own cash and that, for all intents and purposes, you just got a building for “free.” By most metrics, this would be considered a good real estate deal. (Of course, you could also buy a building for $100 and have it be worth only $50. And this would be much less fun than getting free real estate.)

One important question, though, is how does the building end up “being worth $143?” Well, one scenario could be that you just bought really well. It was an off-market transaction (i.e. it wasn’t formally listed), the seller was highly motivated, and so you negotiated a below-market purchase price. You then went out and hired a reputable third-party appraiser who did a bunch of rigorous research and issued you a report that said, “your building is worth $143.” And this would be perfectly fine.

But one can also imagine ways in which someone could lie and do nefarious things to try and convince people that their building is worth $143, even if it clearly isn’t. Now, at the end of the day, I don’t know the facts of this case. So I can’t comment directly. But I did want to use this as an opportunity to add some nuance to Kevin’s claim that “every real estate developer everywhere does this.” Ultimately, that depends on what “this” is. Are we talking about doing customary things to maximize value creation? Or are we talking about fraud?

https://brandondonnelly.com/2024/01/12/does-every-real-estate-developer-really-do-this/