Pickney Street
In June 2013, six years after he graduated from Harvard, Edward Lee worked for an
application and cloud integration start-up company in Cambridge, Massachusetts. He had saved
$240,000 through his jobs and inheritance, and he wanted to use this money to make a long-term
investment. His goal was to invest the money in a small income-producing apartment building. He
hoped to maximize the return on this investment by managing and cleaning the property outside
of his regular working hours. He considered renting an apartment wasteful since his rent payments
would build someone else’s equity when his money could build his equity instead. Investing in an
income-producing apartment building would allow him to create a foundation of equity on which
he could base future real estate investments. This investment would also satisfy his other objective
of increasing his real estate experience.
