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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
REAL ESTATE ECONOMICS
Posted on 08/15/2006 23:33 PM | Link | Post Comment
From Harry Newton www.technologyinvestor.com September 23. 2003:
Real Estate Economics: A friend bought a building many years ago at $2 million. He can sell it today at $18 million. If he converts it to condominiums, it will return $50 million to him. It will cost him $10 million to do the conversion -- about $80 to $100 a square foot. Guess which one he's doing? Moral of this story? The BIG money in real estate is made by changing the nature of the building.
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