12/3/2019- Lessons I Have Learned in 45 years of Investing

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:

1.       The real estate market is always changing

2.       You need to always invest in yourself, and  keep learning

3.       Be as diligent in choosing who you do business with and partner with as you are in choosing what to buy.

4.       Never be afraid to ask others for help. They may have a better idea.

5.       Principles always before people and money.  You have to sleep at night and look at yourself  in the mirror.

6.      Just because someone says no today does not mean that their no is final.

7.      Deals sometimes  work out if you are patient enough and keep working.

8.      You build your business by building relationships with people.

9.       “This too shall pass”

10.    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