A Quote by John Catsimatidis
I put $5 million into the real-estate business when the world was coming to an end, and three years later, by 1980, I woke up and was worth a hundred. That's a lot of money back then.
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What went wrong is we had tremendous concentration in the sense we put a lot of our money to work against U.S. real estate. We got here by lending money, and putting money to work in the U.S. real estate market, in a size that was probably larger than what we ought to have done on a diversification basis.
Today the strategies of many companies in the real estate industry are premised on low interest rates, an assumption that has resulted in the rapid expansion of the real estate securitization business. This trend could be regarded as a risk factor, as it exposes the real estate sector to at least three potential problems: first, interest rate hikes; second, revisions to securitization business accounting standards; and third, overheating in the real estate market.
Annihilation has no terrors for me, because I have already tried it before I was born -a hundred million years -and I have suffered more in an hour, in this life, than I remember to have suffered in the whole hundred million years put together. There was a peace, a serenity, an absence of all sense of responsibility, an absence of worry, an absence of care, grief, perplexity; and the presence of a deep content and unbroken satisfaction in that hundred million years of holiday which I look back upon with a tender longing and with a grateful desire to resume, when the opportunity comes.
Today the patent office is obsolete. You just take whatever you do, tool up, and start production for six months. At the end of the six months you put the data on all the computer inputs all over the world and you got your business. You can make all your money, and then people can steal it, but by then it doesn't matter because you've made the money up front and you avoid wasting money in lawsuits. [My father] had all these kinds of ideas years ahead of others.
The business side of real estate investing is fraught with risk. Unlike purchasing mutual funds or savings bonds, with real estate, you can lose money; this is one of the reasons that seasoned real estate investors caution neophytes never to get too emotional about a property and always be willing to walk away.
Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate.
If you're not religious, then look at it this way. This world of ours is four thousand, six hundred million years old. It could end in an afternoon.
Annihilation has no terrors for me, because I have already tried it before I was born --a hundred million years --and I have suffered more in an hour, in this life, than I remember to have suffered in the whole hundred million years put together.
They give me the money, I give them the book. Having input into the adaptation would be kind of like selling a house and coming back three years later and saying, 'Paint it this color!'
To say I've never seen 'The Jeremy Kyle Show' would be a lie. I once woke up too early in a hotel and put the telly on low to help me drift back off to sleep. Then woke up to such loud shouting that I thought the place was on fire.
Money goes out first to pay expenses and then comes back as profits later - if at all. The high rate of failure of new businesses makes painfully clear that there is nothing inevitable about the money coming back.
What opened up the American West was the fact that you owned the real estate. You owned the gold mines, the oil wells. The creation of these, back then, million dollar industries drove the railroads and eventually the airlines to provide this kind of transportation.
Every bad decision I've made has been based on money. I grew up in the projects and you don't turn down money there. You take it, because you never know when it's all going to end. I made Cop III because they offered me $15 million. That $15 million was worth having Roger Ebert's thumb up my ass.
In the space of one hundred and seventy-six years the Mississippi has shortened itself two hundred and forty-two miles. Therefore, in the Old Silurian Period the Mississippi River was upward of one million three hundred thousand miles long, seven hundred and forty-two years from now the Mississippi will be only a mile and three-quarters long. There is something fascinating about science. One gets such wholesome returns of conjecture out of such a trifling investment of fact.
I remember this one time I had a dream about me writing a screenplay, and when I woke up, you know those dreams that feel so real, but I woke up and I was like, 'Oh my god I have this amazing screenplay I need to write down as soon as I wake up' and then I woke up and I was like what the heck was I dreaming of?
A real estate closer. Oh, what's that? I'm a real estate opener. What is a real estate closer? You mean at the end where you've got to sign all those papers?
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