Successful Investment Real Estate Strategies: Here are The Real Limits
I was told years ago that the passing of time accelerates with each decade, it is something I never really paid much attention to, until I am getting close to hitting 40 and seeing how fast the time does go as you get older – it did not go this fast when I was 21 I will tell you that!
This brings me to the point: limits. You know, I've often talked about self-imposed limits versus real limits, and how most people never, ever, ever get close to testing any real limits – especially when it comes to their investments Well, there are real limits of course. For time, energy, endurance. For money.
You can only do so much, manage so many projects, coordinate so many people, before the overall quality and value of what you are getting done is so drastically compromised by the quantity of what you are getting done, it's a bad trade. So you have to DISCRIMINATE, PROCRASTINATE and ABSTAIN. You have to be selective about what you decide to do and not do. You have to put things on a back burner, schedule when you will re-visit them, and ignore them until then. – This not only applies to life in general but also to investment real estate as well. – The type of property you should be focusing on NOW, the time frame in which to own one of more, etc.
You have to pass altogether on good, worthy, lucrative and interesting opportunities. You do not have time for all. Its like the guy I just got an email from and wanted to know “What I Had To Invest In That Would Interest Him”. He is not focused at all, open for all opportunity but in the long run will be slowed by the quantity vs. quality factor I talked about before.
For a really successful person who values opportunity and has a great work ethic like me, this is very difficult. Personally, I find it more difficult than it was to go from zero to investment success in the first place.
You and I must modify the way we play our games based on reasonable and realistic assessments of the changes in ourselves and those around us.
There were quite a few of my clients last year who added tens of thousands of dollars in cash flow and returns from their properties. Why not do that again now? Heck, why not multiply instead of add?
There may be no good reason at all. Why not? Go ye forth and multiply.
Or you may be wise to temper, to more carefully pace your growth and success. I frequently talk about the importance of “enough is enough numbers”. The king who keeps adding rooms onto his castle with nothing to put in them, no reason to have them, is a fool.
So, it might be good to set aside a little time to check on your compass, to verify and enunciate your complete definition of commercial real estate investment “success” and focus on one or two ways to get there vs. 100 ways.
Otherwise you might miss it. It's even possible to over-shoot it.