Essay

The real estate investor

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The rabbi's claim that the property was worth more than $700,000 which he had backed up with an eight-year-old appraisal, he insisted they can get it for $265,000 because the property is in distress. The rabbi proposed that Katz come up with half the money and he would come up with other half. After they purchased the property two realtors who took a look at the food processing plant said to Katz, that the property was worth only $300,000, not $700,000 that the rabbi claimed...
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After they purchased the property two realtors who took a look at the food processing plant said to Katz, that the property was worth only $300,000, not $700,000 that the rabbi claimed. Katz suggested that the realtor take a look at the appraisal. He explained to Katz that the property worth $700,000 depends on its being in operation, but the factory has been closed for more than five years...
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