It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong.Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention and I wouldn't under-estimate the value of that, but they're not designed to take care of social needs.
Wednesday, October 3, 2012
Real estate investors believe 3 myths. Have you heard these?
Myth 1: Flipping is the fastest and easiest way to become a real estate investing kingpin.
Myth debunked: Totally not true! Flipping is slow, expensive (someone has to pay for all of that material), and very very time intensive (someone has to pick up that hammer).
Myth 2: The more your phone rings, the more successful you are.
Myth debunked: A ringing phone only seems like success. But you're busy. The most successful investors never have a ringing phone because they have systems in place to give them freedom. (Read more about that at this blog post)
Myth 3: Funding your real estate deals is hard because it's hard to find serious lenders.
Myth debunked: People are looking to move their money out of the stock market because returns have been terrible in the past few years. They're looking for is a place to invest that offers the potential for returns with some measure of safety. Remember to keep this in mind when working with potential lenders!