Monday, May 17, 2004

What I've learned so far in real estate investing.....

1. Always stay in control of the situation. If you're not in control, you're sitting around helplessly frustrated with no way to fix the situation.

2. Always have multiple backup plans because nothing, I repeat, nothing will go as planned.

3. Money talks. A repeat of #2, but always have backups for funding. You never know when you'll need them.

4. Keep a sense of humor because it may be the only thing that keeps you from falling over the edge.

5. Keep your eye on the prize and remind yourself of why you're doing what you're doing.

6. Never assume anything. Verify any information you get from the seller/buyer/title company/mortgage company yourself. And don't forget to ask all the pertinent question.

7. Nothing is as easy as it appears from the outside and from seasoned people who have been doing it for years.

8. Real estate is not a faceless piece of paper. It is instead people's dreams, hopes, and failures. Treat them and their property with respect if you expect the same.

Now that I read back through this, these lessons apply to life in general.

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