Sunday, May 27, 2012


I own a nice piece of property.  It's a quaint place with a lot of old traditions.  The problem is my next door neighbors.  They formed an association a few years ago and are now on the verge of bankruptcy.  I could see it coming, and here's why.  

This association isn't your normal homeowners association.  The members are condo renters who collectively own their own multi-unit condos.  These owners-renters were collecting huge amounts of rent money and spending it like it was going out of style.  It got to the point that most of these owners-renters were having such a great time they didn't care how precarious their economic situation was getting.  As a matter of fact, they were borrowing huge amounts of money and spending far more than they were collecting in rent.  Now they're trying to avoid bankruptcy.

Consequently, it's affecting the value of my property and I'm afraid I might have to file for bankruptcy as well.  And if that happens the folks living on the other side of me will probably end up in the same situation as me and the association.

Just to clarify the situation, here are three property maps.  The first is the association, then my property, and then there's the neighbor that lives on the other side...

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