Running an apartment building with 151 rooms is a business, not retirement. You have control because you have responsibility. You employ people to manage this, but they need to make a profit.
The article makes some funny arguments about adding value. You can raise occupancy from 80% to 95%, you can raise rents, you can cut expenses, you can hire new management. There is some previous owner who is selling this apartment building, why is the occupancy only 80% and not 95% now? How do you expect to raise rents, cut expenses and still have people move in?
And even if you can do that, and hire a new management team, can you really consider this retirement? Instead that's running a successful business.
Instead of "How to retire at 30 with $1 million" it could be called "How to purchase a business that may generate a profit by putting 1.3 million of 4.3 million dollars into the down payment."
This guy is bit thick. Buying a whole index is like buying a piece of economy, which may sound a bit more plausible for people who don't get it, like this one. Also shares have a built-in hedge against inflation (not totally true, but "true enough").
The article makes some funny arguments about adding value. You can raise occupancy from 80% to 95%, you can raise rents, you can cut expenses, you can hire new management. There is some previous owner who is selling this apartment building, why is the occupancy only 80% and not 95% now? How do you expect to raise rents, cut expenses and still have people move in?
And even if you can do that, and hire a new management team, can you really consider this retirement? Instead that's running a successful business.
Instead of "How to retire at 30 with $1 million" it could be called "How to purchase a business that may generate a profit by putting 1.3 million of 4.3 million dollars into the down payment."