It was around 1990 I was pretty involved in buying real estate. I had bought a condo on the south side of Nashville called Paragon Mills. It was a foreclosure, and the profit was going to be pretty sweet. I held it a couple years to take full advantage of the capital gains tax vs. ordinary income. After advertising it for a couple months, a buyer surfaced, oddly enough, I knew him. We were by no means friends; he was just a local business person that had been very successful in his career (locals would know him if I used his real name). To protect the guilty, we will call him John.
To make a really long and complicated chain of events much shorter, I will just go straight to the bottom line.
He cheated me out of $40,000 using a technicality that was hidden deep in the contract, unknown to anyone but him.
