Stockton might have a new mayor in Michael Tubbs, but let's not forget the city filed for bankruptcy just 2 years ago!

Nothing sinks a credit score faster than medical debt, foreclosure, bankruptcy debt or student loan debt.  

It's so wonderful to talk to experienced investors, especially ones that have been in the game and have filed bankruptcy, and still got back into the game.  

He sold off as much as he could but ended up filing bankruptcy (which he said he didn't really need to, but just gave up). 

Student loan is unforgivable even in bankruptcy.

I would manage the properties myself to save not only the management fees, but to save from the mistakes management companies make e.g. paying too much to contractors and vendors.If you can't manage the properties yourself then I would sell them before your management company digs you into a hole you can't get our of, meaning bankruptcy.

Well...after paying my attorney about $1,000 to tell me he read the Placement Memorandum and the deal was good I invested exactly $1 million in the deal and lost exactly $1 million plus I ended up paying an additional $50,000 for attorney fees because everyone was suing everyone and I had to file bankruptcy to make this nightmare go away.Humans are strange when it comes to getting advice.

There are people making $500K a year that file bankruptcy.

In times where I may need to move quickly to liquidate, I can do so successfully without worry of default, bankruptcy, short-sale or foreclosure because I refinance based on rental metrics and not present-day value.For me, that is the only flaw I've read in the argument and may or may not be what Anish was meaning.  

Lenders don't want the property, they want their money back.I once had a borrower tell me that he had a multi-family that he still owned after bankruptcy.