In another article I was reading on York Street Properties and Lance Puig, the term "Ponzie Scam" was mentioned.
Running out of money for mortgage payments, home remodeling, home repairs, payment to service providers and adequate property management is symptomatic of a Ponzie Scam and not just bad management. Particularly if the only way you can "stay alive" is to find new investors for the scam.
Investors like me are profiting from the dishonest, self-professed "Real Estate Gurus" of past. I feel sorry for the victims and have nothing but disdain for the perpetrator (s).
Hopefully your vigilance and the action of authorities in Texas will prevent similar unprofessional and despicable acts in the future.
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