It is December now. Thanksgiving is behind us and Christmas and New Years Day is not far away. This time of year, I always get a little reflective. Some of it has to do with the fact that I am a person of faith. A second reason why I get a little reflective is because we are nearing the ending of one calendar year and getting near the beginning of a new year.
In a few days, I will be speaking to a real estate investing group in my area. The topic I have been asked to tackle is : “Lessons I Have Learned in 45 years of Investing”. I have seen a lot since I bought my first piece of real estate back in the 1970’s. I have seen up’s and down’s of real estate, and have seen the same happen in my own real estate and note portfolio. I have made some mistakes along the way, and there are other times that I have been incredibly blessed. Here are a few things I have learned in 45 years of investing. The list is not complete as I prepare to speak to that real estate group. The lessons are not listed not in any particular order other than how they come to mind. They are as follows:
- The real estate market is always changing
- You need to always invest in yourself, and keep learning
- Be as diligent in choosing who you do business with and partner with as you are in choosing what to buy.
- Never be afraid to ask others for help. They may have a better idea.
- Principles always before people and money. You have to sleep at night and look at yourself in the mirror.
- Just because someone says no today does not mean that their no is final.
- Deals sometimes work out if you are patient enough and keep working.
- You build your business by building relationships with people.
- “This too shall pass”
- They are not making any more land. It is valuable
Best wishes in your real estate pursuits as you end this year and prepare for a new year.- RLW