Who is Tom Barrack you say? You haven’t heard? Tom is arguably the worlds most successful real estate investor. So why should you care? Because Tom’s had it with the U.S. real estate market, and he’s cashing out.
I’m Tom Barrack and I’m Getting Out
“I feel totally safe playing polo on a field full of pros,” says the bronzed 58-year-old. “But when amateurs are all over the field, someone can get killed. They have more guts than brains. They charge after every ball and don’t know when to hold back.”
It’s the same with the U.S. real estate market right now: “There’s too much money chasing too few good deals, with too much debt and too few brains.” The amateurs are going to get trampled, he explains, taking seasoned horsemen, who should get off the turf, down with them. Says Barrack: “That’s why I’m getting out.”
Investors take heed. Barrack may be an amateur at polo, but when it comes to judging markets, he’s the ultimate pro.
Caveat Emptor,
Grim
When the insiders start selling…
I’ll let you draw the conclusion.
Smart money long gone.
Now the dummy new real estate moguls are looking to stake their claim to riches. LOL!
Bucking the trend is hard, but when the facts are on your side just patiently and humbly wait to be proven right.
went to an open house over a week ago;
the agent left me a message that went something like this:
Hi … this is … from the open house in West Caldwell. I’m just calling to … blah blah blah … If I can help you in any way, let me know. By the way, the house had four offers and it sold for more than the asking price.
Message to agent:
I think you need to change your tactics.
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