For me personally and at the age I am now (65), the only
type of investing I am interested in is the kind where you set the greyhound to
chase the rabbit (or, more recently, a windsock)… in perpetuity in a low
risk environment with the minimum amount of work.
What I mean is I’m only interested in real estate, in
residential real estate, in residential leasing to the mass market on ordinary
one and two year leases.
I still want well-located, highly animated places with good
cap rates but I also want few risks and as little work as possible.
I’ve done pretty much everything else in real estate—land
development, subdivisions, severances, rezonings, new construction, office
buildings, shopping plazas, retirement residences, arenas, travel apartments,
etc. Now, I leave that up to a younger crew or large, well-capitalized folks.
It’s the simple life for me.
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