Go Do It
In my pantheon of real estate pros, Sam Zell occupies a prominent place. I first became aware of him and his grave dancer moniker when I was a grad student--he is a master of the real estate cycle. In the past year, "he has achieved guru-like status in the business world."
His sale of EOP at what looks like now as the top of the office cycle is recent proof that he hasn't lost his touch.
I recommend you take the time to read this article. My takeaways:
he is constantly trying to "shut out the noise of conventional wisdom. While it may not be wrong, it is rarely profitable."
"Look, business is easy. If you've got a low downside and big upside, you go do it. If you've got a big downside and low upside, you run away. The only time you have any work to do is when you have a big downside and a big upside."
"...when you invest in emerging markets, you are trading growth for the rule of law, so it is critical to find the right local partner and build a strong personal relationship. You're making a marriage."
Now to go do it...
