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Post by johnsmith on Apr 29, 2023 11:30:31 GMT
Summary: Today’s episode starts off with Sam’s take on the withdrawal limits for private REIT over the past few months from the lens of his quote, “liquidity equals value.” He shares his view on different areas of the real estate market, why he’s been a net seller for almost 7 to 8 years now, and some lessons from being a constant deal maker during his career.
As we wind down, Sam shares some advice for President Biden on how to help the economy and how to encourage more entrepreneurship in the US, and I promise you won’t want to miss his most memorable investment.
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Post by retiredat48 on May 1, 2023 2:29:03 GMT
johnsmith ,...Thanks. Anyone considering buying REITs should, IMO, watch this interview Anyone interested in investing in any asset class should, IMO, watch this interview. R48
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Post by bizman on May 2, 2023 0:24:59 GMT
I really enjoyed this interview. Especially his points about always look at the competition and the importance of staying power. Sam is a smart man who has been around the block a large number of times and it shows.
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Post by FD1000 on May 2, 2023 15:44:03 GMT
I never believed in RE investing, the article reinforced it with several nuggets.
* Real estate, by definition, unless it’s in a publicly traded vehicle with significant liquidity, is an illiquid instrument.
FD: I don't invest in illiquid assets. The only one is our house which is the only justified one.
* I’ve been a seller for probably seven or eight years
* From my perspective, trends and markets and all of that stuff is very interesting, but you can have a bad deal in a hot market. You can have a good deal in a cold market. And it all comes down to what are the opportunities that that particular situation creates and what are the circumstances that you can bring to influence how you do?
FD: to succeed in RE you must do most things right and be lucky. Anyone who buys and holds the SP500 for decades have done well, no expertise needed.
* I don’t really think a lot has changed on my risk scorecard. I love to quote Bernard Baruch, who as you know, survived the Depression by selling out before the market crashed. And his famous quote was, “Nobody ever went broke making a profit.” In the same manner, my focus has always been on the downside. My focus has always been how bad can it get, what are the variables that might change where I stand?
FD: music to my ears. Selling RE is difficult, selling my mutual funds is extremely easy, I sell on the first sign of trouble
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Post by retiredat48 on May 19, 2023 15:17:00 GMT
johnsmith ,...Thanks. Anyone considering buying REITs should, IMO, watch this interview Anyone interested in investing in any asset class should, IMO, watch this interview. R48 Sam Zell recently passed away...RIP Sam R48 |
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Post by johnsmith on May 19, 2023 16:11:29 GMT
yeah, I was shocked to hear about his demise. He had been giving interviews lately and I thought he was in fairly good health.
I liked hearing from Sam!
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