MHProNews has learned from multihousingnews in an interview at the Urban Land Institute Nov. 7 of Sam Zell, founder of Equity Group Investments and Equity International, by one-time Zell executive and now Green Courte Partners LLC Chairman Randy Rowe, Zell had some pithy insights. He said it’s ok to make a deal that you lose sleep over but not one where you can neither eat nor sleep. Not knowing when the next opportunity will strike, Zell said he reads constantly so he may better recognize an opportunity when it comes along. Noting “the risk/reward ratio is the determinant of success,” and “I never knew what I couldn’t do,” Zell said some people are intelligent but cannot accept the possibility of their being a downside so they resist risk. He said, “Anyone can put their name on a building. My focus has been on trying to make a difference.” Zell is chairman of Equity LifeStyle Properties, which owns 380 manufactured home and recreational vehicle communities in North America.
(Photo credit: einnews.com–Randy Rowe interviewing Sam Zell at Urban Land Institute meeting)