Real estate has the most dumb, rich people of any industry there is. (that's a compliment, real estate people)
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Curious, what leads you to that conclusion?
I've met tons of rich people in that industry with average IQs. I've met lots of not rich tech people with high iqs. i also know lots of high iq tech people who get into RE and say wtf was i thinking i should have done this early on.
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So the question is - when are you getting into real estate?
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Now, i hope.
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Maybe it's not all about the IQs points. I am in tech but I would never want to consider myself smarter than non-tech. I have met smarter people across so many dimensions in life. Way wiser, richer and/or happier. Lots to learn.
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For those folks, are they just long term buy and hold? Or RE tech?
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I’m a tech, my feeling about this is that tech people (me including) need control and predictability. It’s hard to have that in RE because your tenant can stop paying the rent at any moment, or deteriorate the flat before leaving. This is very stressful
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No it isn’t. You just pay a management company to take care of your problems. It’s far more stressful to be running a high performing tech company and doing 100 hours a week.
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Highest probability path to wealth. Few industries where you can get nosebleed debt and not blow up 9 times out of 10. (non-recourse debt). Plus population growth bails out most bozo purchases over a long enough time horizon. We also get to compound tax free....for now
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You don’t need IQs to make money but you need to be smart lol
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Yep, says rich white guy. “Make millions, it’s easy”. LOL.
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