Growth through misery

Whoever it was who said that misery can lead to personal growth was certainly correct. What makes me happy is that the it was someone else's misery that led to my financial growth.

We all knew that Chester was taking a real risk when he bought two blocks of not so desirable houses, tore them down and built forty-two condos. We knew the market was getting over-built and it was time to make money in foreclosures. But Chester didn't care, he had some loans, formed a new company and took the plunge. He has had companies go belly-up before. There wasn't much of his money involved.

So the project crapped out last week. Two days later we jumped in a bought the whole thing from the bank at two dimes to the dollar. Today we finished selling it all to Mr. Wong for almost twice the price. Wong can fill it quickly with illegals -- I still don't know why everyone is so aginst them. They pay high prices to be left alone.

So, we make money.
Wong makes money
The illegals get a place to pile twelve people into three rooms
The bank loses a few bucks
Chester will have to find a different bank for his next venture. That should take him a month. He;s going to Florida anyway.
End of misery.