Tuesday, October 03, 2006

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




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