I’ve always enjoyed watching real estate and home improvement shows, but it wasn’t for their glitz and glamor that I’ve decided to dive into the world of real estate.
Back in 1993, during the peak of Romania’s rampant inflation, my parents went through a heartbreaking experience. They lost every penny of their hard-earned lifetime savings. I’m not talking about the modest 9% inflation rate we saw last year. I’m talking about mind-boggling rates exceeding 250%. To give you some perspective, the highest inflation rate ever recorded in the US was 23.7% back in 1920.
Prior to the inflation reaching its peak, my parents had the opportunity to invest their money in two amazing real estate properties, in addition to the home they lived in. Only that my father had his doubts investing in real estate and believed the financial crisis could be avoided. He held onto his optimism until the day when everything came crashing down. It was a harsh reality check for all of us.
That event stayed with me throughout the years – as it profoundly influenced the decisions I made at that time, which in turn impacted the entire course of my life.