I am sure you have heard this expression before: "Scared money don't make money." I wholeheartedly agree and have witnessed prime examples time and time again in the world of real estate and elsewhere. Investors who are timid in making deals because they want to save every penny sometimes are not paying attention to the big picture. Sellers who are reluctant to make necessary upgrades may not have the success in disposing of their asset due to a limited buyer market - in some instances they have saved pennies and lost major dollars. Professionals who do not spend time, treasure and effort into investing in their minds and craft are leaving opportunities for others to seize. Perhaps you could look at these examples as individuals stepping over dollars to pick up nickels. This is the difference in success and failure.
Real estate investors obtain many benefits from their holdings, including: depreciation and interest tax write offs, cash flow, equity appreciation, hedge against inflation, leverage - the list goes on and on. Buyers must delay gratification of what cash today can buy them to gain the many financial benefits that real estate can bring them in the long run. Investors who are "scared" that the market may go down, or tenants may tear up their property or they may not have enough cash to cover their other expenses will not be entitled to the many benefits that real estate can bring them otherwise. I encourage my clients to make informed decisions and understand that taking the risks associated with smart real estate investments can bring stellar financial results. Only the stellar results are rewarded to those who take a chance to earn them. The most successful are those who understand that taking a risk is the only way to get to the next level.
What areas of your life are you being timid? Are you sticking to the status quo in your personal life or career? Join me in the journey of taking calculated risks to get to where you want to be. Message me firstname.lastname@example.org and help me understand the areas in your life where your capital can be more appropriately deployed to create better results. Thanks again for stopping by my blog and I will see you next time.