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Posted by Lilly on April 14, 2001 at 19:16:21:

In Reply to: JJ, you have it wrong, the report is only half the story. posted by Real Landlord on April 13, 2001 at 19:29:05:

I understand what you're saying regarding mortgage payments and financing, but only for the original purchase of the property. Property values have increased a great deal in the past few years. Lots of LL's (mine included) have gone and borrowed against the increased value of the property, taken on larger mortgages, put that additional cash into another property or two, and subsequently that once affordable mortgage payment is now prohibative. But that was their choice! The cash wasn't put into this building, it was used to buy more buildings, ie to pyramid. I don't buy into your argument in that respect.

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: I understand what you're saying regarding mortgage payments and financing, but only  for the original purchase of the property. Property values have increased a great deal in the past few years. Lots of LL's (mine included) have gone and borrowed against the increased value of the property, taken on larger mortgages, put that additional cash into another property or two, and subsequently that once affordable mortgage payment is now prohibative. But that was their choice! The cash wasn't put into this building, it was used to buy more buildings, ie to pyramid. I don't buy into your argument in that respect.


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