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Good investment decision?

Posted 9/21/15

As a real estate investor, I’ve been curious about Mr. Robar’s plan of development/treatment for his properties in Potsdam. I assume he started with the idea of making a profit by selling to a …

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Good investment decision?

Posted

As a real estate investor, I’ve been curious about Mr. Robar’s plan of development/treatment for his properties in Potsdam. I assume he started with the idea of making a profit by selling to a Dunkin Donuts 10 years ago. The rezoning didn’t work out. I don’t understand why he didn’t come up with an alternative development. Having properties sitting vacant isn’t a good strategy unless you anticipate appreciation. By altering them in the manner he did only degrades his land and the surrounding property. A sudden artistic epiphany aside, I can only speculate that it’s done to spite local government officials. What have the neighbors done to him? Some people view it as a joke...it’s not to those owners who may need to sell their home for financial hardship or for a senior citizen who needs resources to pay for medical bills. You may say to just turn your head while passing if you don’t like it. Well the immediate neighbors can’t. Potential buyers won’t either. Someone said that Canadians come for the day to see the potties. They would come to a circus, too for a day, but they wouldn’t want to buy a house next door. A family home is typically it’s most valuable asset. Also, the notion of caring about our neighbors and about more serious worldwide problems is not mutually exclusive. I am not a neighbor of Robar, but feel for them. Why this plan?