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Subject Expert
I own a racetrack now, and it'sbeen a disaster but I will be out of it soon. Found a sucker who's going to give me $500k for it.
I wouldn’t put my first $500k there, my 200th? Maybe.
I put some money into an apartment syndication back in 2021 and it went to $0
I wouldn’t “gamble” on an alternative investment like that with any more than 5% of your investable funds. I’d put crypto in that same bucket too.
Even if it doesn’t go to $0 like my investment did, it’s more likely that you see little to no return for 5 to 10 years than you double or triple your money in that same period of time.
I took the last of my money and bet it against the Harlem Globetrotters.
I thought the Generals were due!
This is not how you FIRE. This is how you gamble with “extra” money after you’re already done. If it went to zero and you wouldn’t care, then it’s the right time to do it.
If that is your only investment that requires you to be an accredited investor, I wouldn’t do it. You need a portfolio of super high risk/high reward investments in order to succeed. Hope for one to hit; expect most to fail. I made a good return on a mezzanine financing deal for a condo development in Chicago; lost it all (and more) in a series of private equity deals. $500K on one risky project is like putting it on black in Vegas but with worse odds.
Angel investors / private equity investors often make 20 investments, hoping one or two return 3x to 5x to keep the cycle running, and hoping maybe one returns 50x (or more) so they look like a hero.
Subject Expert
When you call an investment “weird” you already know it’s a mistake.
Listen to yourself (and others here)
What are your expected returns?
500k is too much for me to risk on anything tbh
500K out of how much NW?
I invested in my own businesses
Spouse is in the horse racing business and has been approached by many about this. Don’t do it. It’s an industry built on the backs of the desperate or those who have money to throw away (ie my spouse); there is no in between. There are way more sound bets; you’d be better off investing into an AI company.
I put a three digit sum into a "dinosaur IPO". And yes it was a stupid decision. Albeit funny.