I am quite excited about the prospects of the coming year. In 2007 I stayed pure, focused on Real Estate, and still made some money! The most important thing is..... I trained my mind during this down turn. Many in this market have quit investing. The latest mantra is multiple streams of income. While it is a noble concept. "He who tries to grab all the apples, usually gets none". The key is to success is to stay pure and stay focused. It's kind of like driving and talking on the cell phone. You would get better results and be much safer to do just one.
Most Real Estate Investors, Service Providers and Guru's are at best half cycle participates. Until you firmly grasp the numbers, modalities and benchmarks from beginning to the end of one of these cycles, you could be fooling yourself with random results. I have a presentation "The Simples Truths Every Real Estate Investor Should Know", the key to grasping this speech is......
It's not how the Market behaves.... Its how you behave, that determines your success or not.
The market is an emotionally based, wandering, unforgiving beast at times. It really can not be responsible for its actions! But you can!
Over time I still can not find a better way to build wealth than thru Real Estate.
Paramount is the concept of "true" knowledge. Most of the knowledge offered in this "game" is emotional, sell you something based content. They get you excited and try and sell you something. By channeling out the emotion and focusing on numbers, is how you will succeed and grow wealthy.
I am implementing a training program within the SWFL REIA and beyond. A program that I call the "Intrinsically Focused, Value Based, Empirical Skeptic". Will attempt to seek a decent name! LOL Please share any suggestions.
I have watched a number of friends, suffer this downturn. They made emotionally based Investment decisions. The people selling them these "deals" were quite charismatic with well thought out marketing plans. In relation, the momentum of the market helped to cover up the shortcomings of the deals. Some were Pre-Construction, some were assignments of contracts. The key to these deals were, they were speculation, pure and simple. One of my goals is to try and prevent this from happening via sound educational concepts. Please understand, I truly doubt most of these deals were done with anything but the best of intentions. Most participants had no idea what was going to happen. History shows what was about to happen.
I have developed this, with my own experiences as a Real Estate Investor (the bad deals taught me more than the good deals) and thru my own education via my mentor's. This will be number based education. Teaching you to channel out emotion and let the deal make you buy it. More importantly to understand the timing of how to alter you're buying and selling philosophies.
The great part is most of these concepts and knowledge has been around a number of years. They just are not that exciting! The results can be! I often share with investors I help, the best deals you do, are the ones you choose not to buy. They allow you to do the deals you should
Keep checking http://www.swflreia.com/ for more details
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