Updated over 3 years ago on .
Greatest mistake I ever made - leaving knowledge on the table
That subject line throw you for a loop? Heard of leaving money on the table in regards to a deal? Well knowledge is money if applied. Let me explain....
When I started real estate I wanted MOMENTUM. I could taste progress when I was taking action and buying, holding, leasing and dealing with the mundane tasks of property repairs, maintenance and taxes (accounting and reporting). But it did not occur to me that what I felt as progress was really me being pacified by activity and perception of progress. Now I know I should have become a mass consumer of information and attitudinal culture at the outset. I should have always been on the look out for an evolution mentor w/I real estate.
Expanding further--I started at the tough end of the spectrum "buy and hold" versus at the knowledge end of the spectrum on hybrid/derivative deals like: subject 2s, owner financed, Lease options, wraps, joint venturing with owners to fix, retail resale something they would otherwise not have the capital, time, or other resources to do.
In short, I did not add knowledge to myself so I could add value to others, their transactions, and facilitate problem solving.
Values have value--never forget that! It will serve you well. Afford to "pay" attention and learn how to earn because this world is FILLED with OPPORTUNITIES. People bring them to you and lay them at your feet. They carry a gift to you that they call a "problem"... They see it as a don't wanter property or a physical issue like deferred maintenance that are beyond THEIR means.
But you my friend have taken the time to learn much so you can provide much -- both specific knowledge of how to reposition the asset and how to involve your mentor, their capital and JV the deal. Learn to Social Concierge others to problems and solve them together... I know, I know schools don't teach this... Maybe we should make schools teach it--I am in if you want to win that way!
Lastly people change as they go through their different cycles of life. As we get older we shift and want to have a greater societal impact so we can answer the question to ourselves--what was it all about, what impact will I leave.... I stand ready to assist.
Get'r done