WJM1998

You Don't Own Real Estate - It Owns You

An excellent distinction between the various types of real estate "ownership". As a real estate developer, I see many "wanna-be's" jump in and pay market price and more for a project. They don't understand that, at best, they only have a 33% chance of making a profit, as your article points out. This assumes that they don't run over budget in their construction which may put their investment costs beyond the project's future market value. Any fool can pay retail and work for nothing. An intelligent investor buys at a discount to the current market value because he or she recognizes that you've made or lost money the day you close escrow.