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Lessons from a Lake Geneva Mansion
One of the great advantages to living in Kenosha, WI is how close you are to Milwaukee, Chicago and of course Chicago's playground for the wealthy, Lake Geneva, WI. It never ceases to amaze me how much wealth has been created as a result of Real Estate.
As I was taking a boat tour with my children, I remember coming across a mansion called Stone Manor. It was not the magnificence of the 18,000 sq' structure, but the story behind it that left an impression. In 1871 there was a little fire in the midwest known to most as The Great Chicago Fire. While every one was panicking and leaving the city of chicago in droves, a little known immigrant from Germany kept his cool and bought real estate along State Street with money he had saved while working hard as a street vendor and with almost no education.
There is a lesson here, those who save their money AND are willing to risk that hard earned money when everyone else is panicking will reap the rewards. While the current real estate downturn (and subprime market failure) pushes prices down, people will panic The media will tell everyone to stay away from real estate. But ... more
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