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Michael Sonnenfeldt: The Most Successful Real Estate Deal of All Time and Building a Community of Billionaires
My First Million
Real Estate Has the Highest Number of Dumb Rich People
As real estate became more securitized with different types of ownership and debt that went to wall street, it became more of a wall street game. A building that i own, i could lose a fair amount of money on it. But like this, it's still a thing that someone will purchase, even if it's at a huge loss. It's not that it's without risk, but as an asset category, it's a long dated asset.
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