3 ms·
A) every property financed by the time of that census article from 1996 is paid off now B) even the person from OP’s article owned business interests in variou
by vmception 6y ago
A) every property financed by the time of that census article from 1996 is paid off now
B) even the person from OP’s article owned business interests in various properties
- whimsicalism 6y agoI'm not taking issue with your claim that there are plenty of people with a networth of at least 7.5 million - there are millions of them in the US alone. But most city apartment buildings aren't owned in full by a single person. The numbers are even more stark for more recent [0] [0]: https://www.jchs.harvard.edu/blog/who-owns-rental-properties-and-is-it-changing#:~:text=Institutional%20investors%20own%20a%20growing,Housing%20Finance%20Survey%20(RHFS) https://www.jchs.harvard.edu/blog/who-owns-rental-properties....
- sokoloff 6y agoWhat’s the reasoning behind the claim in A? It’s extremely common to refinance (and in the US to 1031 exchange out of a property into others; might be a similar program in Canada). Much of the benefit of commercially owned real-estate comes from being leveraged. Paid-off property will cash flow better per door, but usually not per million of equity.