Chapter 43
Calculating and assessing, I scan the infrastructure on our walk. This area is on a short list of small cities forecasted to experience a surge of growth as climate change continues to displace people.
“From the last block to this one, you can feel the demographic shift, right?” I ask Dani, looking down at her. She’s in tennis shoes today, making her feel extra short by my side.
“Yeah, there were a couple of boutiques on the last one, and this one has some vacant storefronts and feels less fancy.”
“Exactly, but we can assume that this block is already happening, meaning investors have already purchased the real estate, and it’s in the process of being flipped,” I share, peeking into one of the empty storefront windows.
“We’re buying an empty lot of land five more blocks east of here.
By the time our project is ready, the street we are on now will have changed, and so will the others approaching our location. ”
“Conceptually, I get why gentrification is a good thing,” she says, then pauses. “But displacing people, it’s a little sad.”
“Are you not a capitalist?” I squeeze her hand. “Nothing exemplifies pure capitalism more than real estate.”
She raises her brow.
“There have to be winners and losers. It’s supply and demand.”
“I get it. I just wish there was more altruism for all versus if you can pay, you can stay.”
“How much government oversight and involvement should there be in setting rent prices and being involved in what gets built and where?”
She shrugs, but I’m betting she doesn’t want to start a political, philosophical, and moral debate.
“We could pontificate on this all day, but the facts remain.” I break the silence.
“I can buy this lot for a fair market price. Based on the zoning, I can build something to the maximum allowable height. Then, using data, I can optimize the floor plans and finishes, all to achieve the highest price per square foot while maintaining the strongest occupancy. That’s the business of real estate. ”
We continue to walk toward the land Real-ity is set to acquire.
“It’s my job to get the highest return on investment for everyone that gives Real-ity money. Altruism and the government move too slow to have any real impact on any of these things. And when they start moving faster and changing the business, I’ll have to find another game to play.”
“So, it’s all Monopoly to you?”
“I play to win.” Reading her face, I decide to lighten the conversation. “When we get married, you can start a foundation and donate all our money to whatever cause you want.”
Dani stops dead in her tracks, raising an eyebrow at me. “When we what?” Her tone is challenging, and I wink at her. She would be an amazing partner to whoever is lucky enough to have her.
“It will be a needed tax deduction, and you can be as selfless as you want.”
“You would be totally okay with me donating all our money?” she asks, playing along with this fantasy.
“Money isn’t my biggest motivator. Besides, in rooms full of the rich, you can always make money faster than you can spend it. I’m an opportunist and a realist, which is why I love America. With enough money, you can do whatever you want.”