From: Michael Croft
"....... and I continue to invest in real estate owning more than 70 +ve properties (and growing)." Steve McKnight
Actually Steve and please correct me if I am wrong but these are wraps, right? If that is the case do you personally own them? Are the wrapees able to refinance and pay you out? If so you own a finance business which maybe very profitable and a good one, but you do not "own" the properties.
If the above is correct you also do not invest in property but in a finance operation/business.
Sorry for being pedantic but if the title is in the wrapees name or can be transferred at the drop of a refinance, you own no property and in fact have little control of the property either.
Michael Croft
"....... and I continue to invest in real estate owning more than 70 +ve properties (and growing)." Steve McKnight
Actually Steve and please correct me if I am wrong but these are wraps, right? If that is the case do you personally own them? Are the wrapees able to refinance and pay you out? If so you own a finance business which maybe very profitable and a good one, but you do not "own" the properties.
If the above is correct you also do not invest in property but in a finance operation/business.
Sorry for being pedantic but if the title is in the wrapees name or can be transferred at the drop of a refinance, you own no property and in fact have little control of the property either.
Michael Croft
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