When is enough enough? FINAL THOUGHTS/UPDATE

6 Replies

Hi folks, your friendly BP socialist here! First off, thank you all for your responses and input! What a lively discussion!

I wanted to close out my last thread with some heartfelt clarification which I had posted but got burried in the 130 and counting responses.

Regards my comment on antitrust regulation...

 I’m going to take a step back and admit that the government should not regulate this. I would have been wiser to not make the knee jerk antitrust comment in my original post, nor do I feel that's a reasonable course of action nor the government's business. I do feel that there may very well come a point where that could be an interesting point of discussion with regards to the corporate side of things, such as the 82k units I had mentioned. We're certainly not there yet however.

To sum up my frustration and the use of that dirty word GREED...

I stand behind my use of the word, but a better way of putting it would have been to say that one should really consider their motives in scaling up as much as possible, even after they've attained significant scale. My heart in this is not a socialistic ideal but rather a discernment of what's good for the community/society. We're so incredibly focused in this nation on dollars and success, titles and achievements, we often forget we're in it together. There's certainly an undertow of greed prevalent in the world and this industry is not immune to it; and for that reason I ask, when is enough enough? I'm not calling every person with more than X doors greedy, I'm asking them to question their motives to ensure they're not falling into greed, because I assure you there are many who are. That's just the human condition. Always has been, always will be. There are plenty who do things to help raise up their communities, and of course naturally when you get into apartment complexes large numbers come with the territory, but so does syndication which tends to water those numbers down again.

In the end of the day one obviously needs to self-regulate their goals, intentions, etc. I hope to at least get some thought going at the individual level as to why we do what we do, especially when some have long ago attained their goals. The motives are important to say the least.

And finally, I do still find it somewhat ironic that many highly successful investors want to sincerely help others in their real estate pursuits, yet they'd be the first one to jostle over the next property that comes up for sale. That makes sense when one is still early in the game or mid stream, but why do that when you don’t need to and want to see others succeed behind you? I'm struggling to wrap my mind around that one, but let’s call it an open ended question/rhetorical, I’m not looking to stoke a big debate here. 

Again, great discussion! Thanks much to the BP community! And yes, I’m happy to be a socialist if that’s what it makes me. ;) 

Cheers

Originally posted by @David Smit :

Hi folks, your friendly BP socialist here! First off, thank you all for your responses and input! What a lively discussion!

I wanted to close out my last thread with some heartfelt clarification which I had posted but got burried in the 130 and counting responses.

Regards my comment on antitrust regulation...

 I’m going to take a step back and admit that the government should not regulate this. I would have been wiser to not make the knee jerk antitrust comment in my original post, nor do I feel that's a reasonable course of action nor the government's business. I do feel that there may very well come a point where that could be an interesting point of discussion with regards to the corporate side of things, such as the 82k units I had mentioned. We're certainly not there yet however.

To sum up my frustration and the use of that dirty word GREED...

I stand behind my use of the word, but a better way of putting it would have been to say that one should really consider their motives in scaling up as much as possible, even after they've attained significant scale. My heart in this is not a socialistic ideal but rather a discernment of what's good for the community/society. We're so incredibly focused in this nation on dollars and success, titles and achievements, we often forget we're in it together. There's certainly an undertow of greed prevalent in the world and this industry is not immune to it; and for that reason I ask, when is enough enough? I'm not calling every person with more than X doors greedy, I'm asking them to question their motives to ensure they're not falling into greed, because I assure you there are many who are. That's just the human condition. Always has been, always will be. There are plenty who do things to help raise up their communities, and of course naturally when you get into apartment complexes large numbers come with the territory, but so does syndication which tends to water those numbers down again.

In the end of the day one obviously needs to self-regulate their goals, intentions, etc. I hope to at least get some thought going at the individual level as to why we do what we do, especially when some have long ago attained their goals. The motives are important to say the least.

And finally, I do still find it somewhat ironic that many highly successful investors want to sincerely help others in their real estate pursuits, yet they'd be the first one to jostle over the next property that comes up for sale. That makes sense when one is still early in the game or mid stream, but why do that when you don’t need to and want to see others succeed behind you? I'm struggling to wrap my mind around that one, but let’s call it an open ended question/rhetorical, I’m not looking to stoke a big debate here. 

Again, great discussion! Thanks much to the BP community! And yes, I’m happy to be a socialist if that’s what it makes me. ;) 

Cheers

 David is was fun.  If you're ever out my way. I owe you at least a beer.  Coors?

Originally posted by @Joe Villeneuve :
Originally posted by @David Smit:

Hi folks, your friendly BP socialist here! First off, thank you all for your responses and input! What a lively discussion!

I wanted to close out my last thread with some heartfelt clarification which I had posted but got burried in the 130 and counting responses.

Regards my comment on antitrust regulation...

 I’m going to take a step back and admit that the government should not regulate this. I would have been wiser to not make the knee jerk antitrust comment in my original post, nor do I feel that's a reasonable course of action nor the government's business. I do feel that there may very well come a point where that could be an interesting point of discussion with regards to the corporate side of things, such as the 82k units I had mentioned. We're certainly not there yet however.

To sum up my frustration and the use of that dirty word GREED...

I stand behind my use of the word, but a better way of putting it would have been to say that one should really consider their motives in scaling up as much as possible, even after they've attained significant scale. My heart in this is not a socialistic ideal but rather a discernment of what's good for the community/society. We're so incredibly focused in this nation on dollars and success, titles and achievements, we often forget we're in it together. There's certainly an undertow of greed prevalent in the world and this industry is not immune to it; and for that reason I ask, when is enough enough? I'm not calling every person with more than X doors greedy, I'm asking them to question their motives to ensure they're not falling into greed, because I assure you there are many who are. That's just the human condition. Always has been, always will be. There are plenty who do things to help raise up their communities, and of course naturally when you get into apartment complexes large numbers come with the territory, but so does syndication which tends to water those numbers down again.

In the end of the day one obviously needs to self-regulate their goals, intentions, etc. I hope to at least get some thought going at the individual level as to why we do what we do, especially when some have long ago attained their goals. The motives are important to say the least.

And finally, I do still find it somewhat ironic that many highly successful investors want to sincerely help others in their real estate pursuits, yet they'd be the first one to jostle over the next property that comes up for sale. That makes sense when one is still early in the game or mid stream, but why do that when you don’t need to and want to see others succeed behind you? I'm struggling to wrap my mind around that one, but let’s call it an open ended question/rhetorical, I’m not looking to stoke a big debate here. 

Again, great discussion! Thanks much to the BP community! And yes, I’m happy to be a socialist if that’s what it makes me. ;) 

Cheers

 David is was fun.  If you're ever out my way. I owe you at least a beer.  Coors?

 I’ll take a Bell’s Two Hearted Joe! Nice talking sir.

A bit of advice,

I would not start a conversation announcing yourself  as socialist - to those of us who've actually experienced the atrocity that is socialism, it doesn't play too well...

Just a thought.

Another thought - take a trip to Venezuela :) 

@Ben Leybovich is right. I think that's what got everyone fired up so much. You started off saying you (may be) a socialist. Had you worded it as more of a "moral" situation I think people wouldn't have gotten so defensive. I still wouldn't have agreed with you, but at least wouldn't have thought you wanted someone with 1,000 plus doors to just give them to next 10 people in line who didn't put in any effort to get them. The world is made up of different opinions and mindsets so there's no hard feelings from my end. Have a good day!

There are these two modern tropes, one being that the rich are greedy, the other being that the poor are lazy.  We tend to subscribe to one or the other depending on which side of the fence the we are on.  But we are all susceptible of both, no matter what side of the fence we are on, aren't we?

I'm on the rich side.  And I've worked for it.  Does that mean I am not lazy?  Maybe my industriousness is actually driven by a sort of laziness--to never have to do the things I do not want to do!  And maybe I am greedy, after all, applying  the balm of "providing jobs", and "being able to help out the less fortunate" to my conscience.

Those are some pretty heady thoughts and ones it is important for me to mull over.

@David Smit

"Where imposture, ignorance, and brutal cupidity, are the stock in trade of a small body of men, and one is described by these characteristics, all his fellows will recognise something belonging to themselves, and each will have a misgiving that the portrait is his own."

Charles Dickens

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