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This is the biggest takeaway for me: The couple didn't know what Presidio Terrace was when they bought it

• EtDybNuvCu 9y ago
  They are, as the article explains, real-estate investors who do not always examine properties before purchasing them. The couple knew that Presidio Terrace was in a nice neighborhood and seemed to be very well-priced, and they also were bidding in many auctions, so that they probably would not have cared about precisely which properties they acquired.
  • ProAm 9y ago
    And there were others bidding on it as well, it wasnt a secret these people just happen to win the auction.
  • michaelchisari 9y ago
    I already understood their motivation and situation. But I still find it concerning. Maybe it's the bitcoin effect, but when people start investing in things they don't know anything about, that sets off my alarm.
    • rendall 9y ago
      What alarm bells, out of curiosity? There is always risk in investment and investing in property sight-unseen is perhaps very risky, but they felt like it was worth it to them. As the article said, sometimes you can sell off their investment for a profit. Other times, evidently, you can annoy the politically powerful.