Back during the early days of the COVID-19 pandemic, I spent more time than usual at home. As a person who likes to be productive, I spent a lot of time assessing my business plan and whether I needed to make adjustments in light of the changing environment. I spent much time during this period listening to webinars to learn from others. As I listened one day to Jeff Watson, attorney and real estate investor, he said one thing that really resonated with me and it was this: “What is your biggest asset?” As Jeff talked, he stated that he had determined that his greatest asset was not the real estate properties he owned and rented, but the tenants who rented them. That was a “wow” moment for me.
Most of us are tempted to brag about our real estate and note exploits: the houses we have bought and flipped… the properties we have rented… the passive cash flow we have coming to our mailbox every month… the notes we bought… the notes we created… the yield we are getting on our real estate note or our rentals. While those are important to know, perhaps we need to remember that PEOPLE are at the heart of any good note investing or real estate investing business. If that be the case, then perhaps the biggest assets of a real estate investor or note investor are these:
- The persons who sell us a real estate note
- The person or enity that we sell a real estate property or a real estate note to
- The person that rents our real estate property or makes a payment to us each month
What is your biggest asset? Perhaps it is the property or the paper. I agree with Jeff Watson. Our biggest asset is the people that we do business with. Thanks for reading. Until next time, best wishes in your real estate and note investing pursuits.- RLW