Career-ending deals you have seen

[Jason Chen]

Has anyone ever seen someone get into a career-ending deal? As a good example of what NOT to do in real estate.

There was a lady in my town who was about late 50s.

She owned a 75 unit motel on the outskirts of town, and she purchased it in 1990 for $1,250,000. The occupancy was around 50% throughout the year, and she was basically chained her whole life to it. Just to give you a clue about the massive size of this property, property taxes were about $26,000 a year. It ended her investing career.

Fast forward to 2015, and some wise investor got an absolute bargain by purchasing it for $600,000. The motel has probably about an 80% occupancy rate throughout the year, and it rents only weekly and monthly. gets ridiculous cash flow.