By David Lereah

Grandpa told me the story of the biggest mistake in his life every year until the day he died and he always ended the story with the same advice: Never ignore the local marketplace. Grandpa didn’t research the local real estate market. He made his decision about purchasing the skyscraper his business was located in based on what he read in the newspapers and heard on the radio: Across the nation jobs were scarce and families were struggling to make ends meet. He relied on national trends as well as on his experience of what was happening to those closest to him up in the Bronx where he lived – businesses along the Grand Concourse struggling to survive… Grandpa allowed the ills of the nation and the neighborhood where he lived -- which he read and heard about every day -- to blind him to the activity and prospects of the local marketplace in which his business was located. He had an opportunity to purchase a fifty-story building on one of the most sought-after retail streets in the world for a deep discount, and he missed it. He ignored the rich potential of Manhattan because he was so focused on the nation and the Bronx. He ignored the gravity and pull of Manhattan because of the dismal stories he heard about Newark, New Jersey and Philadelphia. He learned the hard way that local real estate values are determined by local activity. He had made a mistake that he would not let himself, or me, ever forget.

Published Date: 12/02/2008 Format: HardBack ISBN: 978-0-385-51922-9 Publisher: Currency No of Pages: 239 Rating: Retail price: US Dollar $ 21.95 (Rs. 1,570.30) Our price: Rs. 1,325.00 You Save: Rs. 245.30 Reviews: 0 reivew(s).

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