After losing $250 million in a Manhattan real estate investment, the State of Florida has decided to invest at home . . . in Florida real estate. Governor Crist wants to invest more of Florida's pension fund money in Florida real estate, even though the Governor has never owned a home. Personally, I think Governor Crist spends too much time working on his tan and worrying about his run for the empty Senate seat.
On the flip side, investing in Florida real estate can be a very rewarding investment if done properly. But when you consider the $250 million loss the State just suffered, I hope they have some responsible folks doing the investment research. By the way, the $250 million loss was a 100% wipe out on that investment.
As I have written before, there are great deals in Florida real estate, but there are more traps than deals . . . so be careful.
Mike's Florida Real Estate Blog - Click Here
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Great Time to Buy Real Estate? - Yes, No, Maybe. I suggest you read this piece I wrote about how to find a Great Buy and what traps to avoid - Click Here
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Tuesday, September 8, 2009
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