Lester Golden
Apr 29, 2024

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Never. After selling my last apartment in Riga I had enough of being an operator.
I also owned an apartment in Tokyo from 2006 to 2012 by buying shares in a classmate's company that bought 57 apartments in The Tokyo Towers by issuing 2.25% bonds on the TSE through the Japanese REIT Orix. Rental yield was 475 basis points over cost of capital. The best part of the investment was where the money wasn't in September 2008. I sold a lot of oil and bank stocks to raise the cash. Luck was never so dumb.
With Interactive Brokers you can buy REITs anywhere in the world. Why practice home country bias?

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Lester Golden
Lester Golden

Written by Lester Golden

From Latvia & Porto I write to share learning from an academic&business life in 8 languages in 5 countries & seeing fascism die in Portugal&Spain in1974 & 1976.

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