2min chapter

My First Million cover image

#8 - Real Estate: How The Wassermans Do What They Do

My First Million

CHAPTER

In Real Estate, You Never Want to Sell

We had one of our best buys when we bought a 415 unit apartment community on the main drag on camel back road, right by the biltmore hotel. We paid 16 million dollars for it. E, we probably invested around a million dollars into the property in renovations, and we sold it a few years later for 27 million. And then there's an old adage ind real estate, you know, you never want to sall. If you don't have to sell, the best thing to do is overtime, just re finance,. be able to pull out all your money, and it's like a slop machine. It just keeps paying off.

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