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Connie has a relative who likes to claim her admittedly very successful son owns a hotel in Florida. I checked that out and the reality is he participates in a real estate trust or holding company that actually owns various properties.
That knowledge told me there is more than one way to claim smart investing. I violated my standard of knowing what I was buying – sort of.
I just purchased 1,000 shares in the Empire State Building. That sounds impressive (to me at least), but the reality is it’s a real estate investment trust (REIT) and sells currently for about $4.90 a share.
Will I make money? The dividends are minuscule, but who cares, I am now part owner of one of the world’s most famous buildings— and I’m diversified into real estate 🤑🤑😆😆
It may not be smart investing, but pretty cool, right?
Ha, I once owned a shopping center in Illinois, an apartment complex in Florida, and an office building in Manhattan; the worst investments I ever purchased. But the Empire State Building, now there’s some bragging rights!
NY office space over oil futures? Sure — in the same way a sprained ankle beats a broken leg. I’ll keep my property empire firmly on the Monopoly board, where the only crash I worry about is landing on Boardwalk with a hotel on it. The dream of owning exactly one brick of the Empire State Building will just have to wait. 😄