Rome wasn't built in a day.

3 Replies

I have heard this saying over and over from several of my "seasoned" friends or family members.  I know their intentions are not negative but I wonder if its holding me back. Often times it is trying to keep me from jumping on a huge chance in real estate. Two questions looking back or forward for some, would you rather build you empire slowly or take the bigger risk out of the gate and try to hit a big score? 

Second: What are the biggest hurdles that you have seen for the one you chose.

Chris Wood

    you have a good start, buy some more. Keep building.

    Originally posted by @Chris Wood :

    Two questions looking back or forward for some, would you rather build you empire slowly or take the bigger risk out of the gate and try to hit a big score? 

    Second: What are the biggest hurdles that you have seen for the one you chose.

    Hi Chris, I think your concerns are shared by a lot of people. For me, slow and steady wins the race. Understanding how my real estate investments will snowball has helped me be patient. If you expect massive returns out of the gate, you give yourself unnecessary pressure.

    The numbers don't lie. Do your due diligence, and creating a business plan helps, because you'll write down every aspect of your business goals and how you'll achieve them. I also think you have to consider how risk averse you are. The more risk averse, the more conservative you may want to go. Go big or go home does not apply here. 

    Risk is relative in my opinion. I invested in the stock market before I dabbled in real estate. Stocks and bonds will go up and down in value, and so will real estate, but over time, both stocks and real estate will be worth more 40 years from now. My investment horizon is forever. Think about investing on a macro level, and the day-to-day speculation will bother you a lot less.

    @Chris Wood  assuming I know the deal you are talking about, you need to execute if you have the ability. I will be happy to help you if you get it. Know your numbers, and dont overbid just because its an auction. Best of luck and I will be thinking and rooting for you. Theres nothing (except money) that should stop you from doing this. All the issues I brought up can be overcome. I hope I wasnt holding you back, here to support you all the way. 

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