Why Blackstone Likes Buying Existing Real Estate

The video discusses the strategic decision-making process in real estate investment, focusing on the choice between building new properties and purchasing existing ones. It highlights the preference for buying existing real estate at a discount, using the Cosmopolitan Hotel in Las Vegas as a case study. The video also addresses the challenges and risks associated with real estate development, such as economic fluctuations and the uncertainty of securing tenants and revenue.

How did the financial crisis impact the purchase price of the Cosmopolitan Hotel and Casino?

What is the speaker's general strategy when it comes to real estate investment?