Why people do not take risks is beyond me. Let me explain what I mean.
I just read a mini biography about the following people:
- Henry Ford
- Coco Chanel
- Richard Branson
- John D. Rockefeller
There were more. The thing that these people all had in common was that they each decided to take a risk. In many cases, a series of them. I could lump all of the top apartment and commercial real estate investors into this category as well.
You see, most people in our society will not take a risk. Most will settle for the company 401K plan or putting their money in a CD or a savings account. The mere mention of commercial real estate investing sends them into a panic.
The big key here then is to not be like everyone else. You MUST take calculated risks – AND the more calculated risks you take – the wealthier you will be.
The next 5, 10, 15 years are going to go by anyway, so why would you let that time go by playing it super safe and then 15 years later wonder, “What if I…”
- What if I bought that apartment property?
- What if I invested in that real estate fund?
- What if I invested in that office building?
- What if I invested in that shopping center?
You owe it to yourself to take a risk and to do what most others will not. I am saying be foolish? Of course not. I am saying if you are one of those people that sit on the sidelines all of the time waiting for the right deal, well, you will not find the right deal and ten years will have gone by.
I believe it was Mark Twain that said that at the end of your life you will regret the things that you DID NOT do versus the things that you did. If you have not done so already, make a commitment to do something with a specific time frame. Then roll up your sleeves and get started down the road to successful apartment investing, rather than giving in to ‘regrets'.