I learned something...
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I learned something a few decades ago, which I am happy to pass along.
With a wise and shrewd DC developer as my partner, we bought a small home in the Burleith area just North of Georgetown. We planned to rent it out, for profit.
I was convinced I would be the next Donald Trump --- money-wise, not personality-wise.
But the DC real estate market tanked, as I don't think it has since.
When you invest in a stock, or even risky options, all you can lose is 100% of the amount you invest. (Yes???)
But in real estate --- with taxes and mortgage fees eating you alive, you can lose a lot more than 100% of your initial investment. I did.
Luckily, it wasn't too large a bet.
It was a lesson well-learned.
Ben
I learned something a few decades ago, which I am happy to pass along.
With a wise and shrewd DC developer as my partner, we bought a small home in the Burleith area just North of Georgetown. We planned to rent it out, for profit.
I was convinced I would be the next Donald Trump --- money-wise, not personality-wise.
But the DC real estate market tanked, as I don't think it has since.
When you invest in a stock, or even risky options, all you can lose is 100% of the amount you invest. (Yes???)
But in real estate --- with taxes and mortgage fees eating you alive, you can lose a lot more than 100% of your initial investment. I did.
Luckily, it wasn't too large a bet.
It was a lesson well-learned.
Ben
posted by Ben Wattenberg at 4:56 PM
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