In 2008 the risk was hidden in CDOs (banks were dishonest about the riskiness of the loans) and the whole thing collapsed.

Richard is the only Investor I know who survived the 2008 Economic Collapse without losing any properties.

If the deal collapses and I would lose everything, I'm out.

I'll add a couple that were 'nightmarish' but not haunted.1986 - The Money Pit    1990- Pacific Heights     And a couple relating to the housing collapse 2014-  99 Homes     2015- The Big Short            

So inside the house looks solid, but behind the walls, you have corroding pipes waiting to collapse and/or flood.

Robert Kiyosaki who wrote a book in 2012 about the next depression/recession  just had Brian Reynolds as a guest speaking about "shadow banking system" yesterday and how there will be a collapse and he does not think it is due for two or three years. 

If the deal collapses and I would lose everything, I'm out.

This house was purchased right before the collapse in 2008 as my primary residence and I converted it to a rental out of necessity.

Usually, only heating oil USTs associated with commercial properties are regulated. thus, most home heating oil tanks may and often are taken out of service without any oversight from state regulators.Second- the rules that are in effect for heating oil tanks are usually less stringent than for diesel or gasoline tanks since heating oil tends to thicker and may not migrate as far. as a result, many states just require tanks to be cleaned out. they may also require the tanks to be filled with sand or concrete to prevent collapse. but sampling may not be required.Third- the key to determining if a tank has leaked is to collect soil samples from around and beneath the tank (groundwater also if groundwater is shallow). another quick way to see if a tank is leaking is to "dip" it with a stick that has a paste that turns color in the presence of water. generally, if water has gotten into a tank, it can mean oil has leaked out of the tank (although a certain amount of condensation may be present even where there is no leak so this is not a infallible test).Fourth- if there is currently a tank in the basement, ask the owner if there used to be a buried tank (a/k/a underground storage tank).Fifth, If the tank has impacted the soil, the cleanup generally varies from $25K to $50K though the costs will depend ont he depth of the contamination. i once had a home with a heated pool that had pressurized piping and used diesel. the contamination went down 40 feet and the consultant went crazy excavating the soil to the tune of $400K!!!

Compare that to when Wall Street collapsed or currencies that aren’t backed by anything tangible"https://www.cnbc.com/2019/10/01/real-estate-is-still-the-best-investment-you-can-make-today-millionaires-say.html?