A famous writer has lost millions because of what she is calling bad property management.
Patricia Cornwell, the writer credited with getting many of us interested in forensics, probably should have been doing a little more investigating of her own investments.
She claims the people who were supposed to be in charge of her real estate are responsible for her loss of $40 million.
On the surface of it that seems like a lot of money.
But what went wrong, or better yet, what exactly happened?
Read Patricia Cornwell's lawsuit against real estate managers
Here's a warning. We keep reading these stories and if you're thinking about turning your properties over to managers as I am now considering, you'd better do your due diligence or else your money could end up in the morgue.
But perhaps Ms. Cornwell could have been a hard money lender.
Here's an interesting article about what hard money lending is and how it can benefit both those with money and those who are anxious to borrow it.
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