LARGE NUMBERS

The numbers on running a band: you can’t make a living at it.  At least not a decent living.  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 averaged 4 percent the past 30 years.  The Dow Jones, 8 percent; U.S. bonds, 6 percent; and my real estate, more than those.

What’s a measly percent point or two? A lot.  This has to do with large numbers.

People think, “Wow, I got a 40 percent discount at Marc’s.”  Yeah, 40 percent on a loaf of bread.  Big deal.   If you can get 40 percent off on a piece of property — that’s something.  Doesn’t usually happen.  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.

You can’t get more than the Dow Jones without a lot of risk.

My father took a lot of risks. He had postal machines, a door-to-door cosmetics company and a foot powder company.  He went broke on all of them.

I was an artiste. My father dragged me 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.

Hey, no biz is all fun.  You do certain things to eat.  You do other things so you’re not just eating.

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Tomorrow:

ONE BIG NEGOTIATION . . . My adult life.

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