Baseball, Investing, and Realistic Expectations.
Hello Friends,
This morning I had coffee with a prominent property manager here in the Cleveland area. As most agents and property managers do behind the curtains, we discussed today's investors and the headaches that come with them.
My complaint of the day was rehabs, equity, and the challenges we face finding property with potential. His response was a clever analogy, clever enough for me to steal and grace you with it here today. And here it is:
"Investing is like baseball. Everyone wants a home run, and they do happen. But I'll take base hit, after base hit, after base hit, and that's how you win the game. If you shoot for a home run every time, you're going to strike yourself out. And that's whats happening with today's (novice) investors."
Mind = Blown.
How to do it right? Do your research, find the area you want to invest. Find the right property manager for the job. Find a Realtor you trust. Buy profitable investments. Don't focus your time looking only for the best deals. You'll strike out in the end.
Cheers,
Jason