you dont get it jantimot..its not the amount that was lost that resulted in my judgment for this poor fella... you obviously have no idea about property development..
lesson number one, never demolish a building until you have permits and approvals, presales and bank funding.
lesson number two, rent the property out whilst applying for permits and approval, resale phase and bank funding application.
lesson number three never buy before pre auction at the peak of a boom.
And jantimot , there are winners and losers in all investment classes...not everyone must lose! Timing is everything.
