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She was talking about an investment property, so yes a rental property. Of course hindsight is always 20-20 - anyone can say "I wish I had invested in Apple in
by JSavageOne 6y ago
She was talking about an investment property, so yes a rental property.
Of course hindsight is always 20-20 - anyone can say "I wish I had invested in Apple in 2003". I really don't understand the point of your comment. The point of my story was that our system incentives the wrong things, not that we're all investment geniuses.
I could elaborate on how the choosing of the coffee shop location itself was an investment in the location after a ton of research and a lifetime of growing up in that city and knowing it inside and out, all of which worked out beyond expectations, but really that's totally missing the point here.
- an_opabinia 6y agoAnother interpretation is that the system clearly incentivized the right things, because she decided to start a cafe and not do something unproductive and buy property?
- 6510 6y agoThe concept we are doing is to incentivize education so that people see the point of it. If real estate investments work much better and/or education is bad enough the formula stops working.
- JSavageOne 6y agoShe couldn't afford to buy an apartment at the time, opening the coffee shop was way cheaper (about 1/6 the cost). In the country she's in, it's big news that rich people and celebrities are buying expensive real estate and flipping it shortly after making millions without doing any actual work.