<\/p>\n
The numbers on running a band: <\/strong><\/span>you can’t make a living at it.\u00a0 At least not a decent living.\u00a0 The Klezmatics<\/a> former drummer, David Licht<\/a>, had a business card that read “percussion, painting, plaster,” and he was with the top band.<\/p>\n Real music, real estate, real numbers . . .<\/p>\n The Consumer Price Index has averaged 4 percent the past 30 years.\u00a0 The Dow Jones, 8 percent; U.S. bonds, 6 percent; and my real estate, more than those.<\/p>\n What’s a measly percent point or two?<\/strong><\/span> A lot.\u00a0 This has to do with large numbers.<\/p>\n People think, “Wow, I got a 40 percent <\/span>discount<\/span> <\/strong><\/span>at Marc’s.” \u00a0Yeah, 40 percent on a loaf of bread.\u00a0 Big deal. \u00a0\u00a0If you can get 40 percent off on a piece of property \u2014 that’s something.\u00a0 Doesn’t usually happen.\u00a0 But if you can get an extra percentage point or two on a large number, over, say, 30 years, you’re making thousands and thousands more dough.<\/p>\n You can’t get more than the Dow Jones without a lot of risk.<\/p>\n My father took a lot of risks.<\/strong><\/span> He had postal machines, a door-to-door cosmetics company and a foot powder company.\u00a0 He went broke on all of them.<\/p>\n I was an artiste. My father dragged me<\/span> into the real estate biz; he blindfolded me and led me before a firing squad of prima donna plumbers, pissed-off tenants and youse-guys garbage haulers.<\/p>\n Hey, no biz is all fun.\u00a0 You do certain things to eat.\u00a0 You do other things so you’re not just eating.<\/p>\n —- ONE BIG NEGOTIATION . . . My adult life.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" The numbers on running a band: you can’t make a living at it.\u00a0 At least not a decent living.\u00a0 The Klezmatics former drummer, David Licht, had a business card that read “percussion, painting, plaster,” and he was with the top band. Real music, real estate, real numbers . . . The Consumer Price Index has […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-218","post","type-post","status-publish","format-standard","hentry","category-landlord-biz"],"_links":{"self":[{"href":"http:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/posts\/218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/comments?post=218"}],"version-history":[{"count":8,"href":"http:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/posts\/218\/revisions"}],"predecessor-version":[{"id":8804,"href":"http:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/posts\/218\/revisions\/8804"}],"wp:attachment":[{"href":"http:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/media?parent=218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/categories?post=218"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/tags?post=218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nTomorrow:
\n<\/span><\/p>\n