Lucky Sign
I found this quote in an old business file from years ago. The author is unknown to me and I could not find anything by Google search. He is speaking about investing in the stock market, but I found the advice very appropriate for real estate investors. If any one knows where this came from, please leave a comment here.
“A man often thinks because he is pretty good in his own business and reads the financial news and talks with the other commuters in the train about business conditions, that qualifies him as a pretty shrewd fellow, who isn’t going to get burned in the market. But he is just as vulnerable as anyone else. Unless the amateur speculator is fortunate enough to have the friendly guidance of a talented financial man, and unless he is of a temperament not to be physically ruined by tension and worry, he is looking for trouble if he tries to play the market without knowing a lot of things which most so-called investors never even know they ought to know. And you not only have to master a difficult field of knowledge. In addition, you need the qualities of character not to overextend a speculative position, to ride out a falling market if need be, and to be able to take a profit or cut a loss in time. Then you have a pretty good chance of coming out on top. Otherwise you are just a sucker.”
I meet many so-called real estate investors who do not set goals for their investments, which is a first mistake. But another mistake is not seeking proper guidance, advice and professional help. In my business and life experience, a qualified and experienced mentor or advisor in almost any profession will pay for themselves. Sometimes many times over. This includes attorneys, accountants, financial advisors and so many more. And, yes, realtors and real estate professionals pay for themselves too! As long as they are not “suckers” themselves. -PB
