[lenoxxx]

Im no financial real estate whiz myself, however to answer your question Bill- some of the things done at Shippensburg made absolutely no sense at all. At one point in 2004 the local alumni asked for a change in leasing and billing that would have taken a slight change in the lease and wording that might have taken 30 minutes to change and review that would have lowered the monthly billing, but made it a 12 month lease as opposed toa 9 month lease that would have made the renters happier, closed a loophole of summer living (all the kids lived there for free anyway) and made the house more rentable- AND WOULD HAVE INCREASED REVENUE 15-20%.

We were told that this was too much work to do, and not how they ran things.

Also leases were never sent to us until december, despite asking many times to up this into august so we could rent and lease more effectively-

We were told that this was too much work to do, and not how they ran things.

At one point a student failed out, and called LCAP to be let out of his responsibilities- and was told "ok", until the local alumni called and reamed out the staff member who approved this, and the offer was revoked.

We were told this was a misunderstanding.

This all goes beyond not having massive real estate knowledge to having zero common sense.

In fact we were also told that the Shippensburg house was actually one of the few MAKING MONEY for LCAP. And now the house is for sale, with no buyers, and get this.... no renters for next year. That's right no renters for next year. After the surprise "we're selling" announcement we told LCAP you would not be able to get renters if we told the kids to move out in NOV of 2008. Several of us got an email in MAY of 2008 asking for help in contacting the chapter to look for 8-10 renters?!?

So now the alumni investment is totally gone, the house will probably sit empty and vandalized in the next few months, and will generate no income and be sold for next to nothing.

Nice