Loading ...re your: “he now looks stupid, which he is anything but.”
This fits my:
“Your Skills and Abilities Mean Nothing, If You Are On The Wrong Side Of Government Agenda.”
A very successful friend of mine, a real estate builder, mostly small industrial buildings, BEFORE 2008, tore down his existing 10 unit apartments structure, looked like a motel, to redevelop the property to 12 high end Town Houses.
They were beautiful. Two floors, and basement. Very high end materials inside and outside. A stream bordering the property. During the post 9/11 real estate boom, he was planning on $479k each. Turned out so many delays, for permits etc, and by the time he finished, the real estate crash unfolded. Taxes were $6,000 per unit, $72,000 per year he had to pay.
He was so desperate, he wanted me to buy the best one for $350k. Then he started renting them with option to buy. He was very upset about what happened, it was a very big investment for him. I told him, “Steve, its not your fault, you didn’t do anything wrong, “the system makes dumb people look smart, and smart people look dumb”.
Steve being the wise ass as he is says to me. He knew gold miner stocks were doing great, “is that why you look smart now”? LOL. He was looking smart since he graduated high school, became an industrial electrician with a few employees, and put all his profits into real estate, so that dummy looked smart until the ’08 dive. He eventually got rid of them and the tax bills.