Part I: Impossibly Naive Part II: The Limits of the Law Here’s what YP had been doing. sales office He had acquired the building with bank financing and gutted it. Maybe at this point he really planned a real project. Attractive literature had been prepared showing floor plans and images of the finished units. He… [Continue Reading]
How I Lost Money in Real Estate Before It Was Fashionable, Part I: Impossibly Naive
Up In Smoke Nowadays, everybody has a tale of money lost in real estate. Dreams and cash evaporated. It has become all the rage. Hard perhaps to believe now, but time was not so long ago, real estate was a can’t lose proposition. People said things like, “Buy land. It can only go up. They’re… [Continue Reading]
You, too, can be conned
I made an enemy this week. She is the widow of an old friend. Before he died, I promised to try to look out for her a bit. During our recent conversation she said I made her feel small. She said I made her feel stupid. There were tears. I’m very likely guilty on both counts. I’m… [Continue Reading]
Armageddon and the value of practical skills
Maybe I’ve been watching too much Discovery Channel. I’ve been thinking about Armageddon lately. All these programs on asteroids or super volcanos or global warming or viruses or alien invaders or an ice age or the reversal of the magnetic poles or AI robots or nanobots or maybe Zombies taking us out. Well, relax. It… [Continue Reading]
Rent vs Owning Your Home: Opportunity Cost and Running Some Numbers
Intro by JL’s Team If you’re wondering if renting vs owning your house is a better choice for financial independence, you’re not alone. A lot of people struggle with this choice. With current interest rates on a 30-year fixed mortgage hovering between 6–7%, it’s more critical than ever to do the math. In this post,… [Continue Reading]
What Poker, Basketball and Mike Whitaker taught me about Luck
Here’s a little thought experiment. Consider all the people you’ve known for a moment. Now focus on the five who have been least successful and the five who have achieved the most. Ask yourself, what is their attitude regarding luck? In my experience the contrast is striking. What I notice is this: Less successful people… [Continue Reading]
How to Give Like a Billionaire: Vanguard, Tax Deductions, & Nuns
I know what you’re thinking. For sometime now you’ve been wondering what exactly Mr. and Mrs. jlcollinsnh have in common with Bill and Melinda Gates. Here it is: We both have Charitable Foundations Now you’re thinking, “I knew it! jlcollinsnh is a billionaire!” In this you’d be, sadly I must say, mistaken. More monk than… [Continue Reading]
Go ahead, make my day
Self portrait Or maybe Clint Eastwood A few days ago I received this email: “Apreciado Jim: Un real . You are over the top for a blog (lot’s of our age people don’t even know what that is) and I am blown away with all of the great stuff that you have on the site…. [Continue Reading]
Muk Finds Success in Tahiti
Let’s run away together One day, many years ago, I was having an especially bad day at work. Late in the afternoon I called my not-yet-then-but-soon-to-be wife and said: “I’m sick of this crap. Let’s quit our jobs and run away to Tahiti.” I’m not entirely sure I knew where Tahiti was at the time…. [Continue Reading]
Travels with “Esperando un Camino”
Esperando un Camino In my office there is a bronze sculpture we acquired in Madrid, Spain some 25 years ago. It is about a foot tall and depicts a young woman. She is barefoot and has long flowing hair. Dressed in a peasant blouse and long skirt, she stands with her hands on her hips… [Continue Reading]
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