Take the Lickin' and Keep on Tickin...How to Handle Your First Real Estate Loss
Howdy!
This week has been bittersweet. I had to sell our Lauderdale apartment. Although it wasn’t what I wanted to do (we’ve exhausted every opportunity to get rehab funds), it didn’t make any sense to keep it and not do anything with it. The cool part about the sale is that the property will be put to good use. Our buyer is a non-profit agency that hosts an aftercare program in the area. What a wonderful opportunity to be a blessing!
One of my elementary school classmates, Brian Hall, is a great motivator and is soon to be (in my opinion) one of the most influential ministers in our community. His father was such a positive influence for all of us back in the day and it’s so awesome to see Brian following in his father’s footsteps. Talk about sowing and reaping :0)
Here’s a facebook status that Brian posted a couple of months ago about tenacity. I hope that it blesses you and encourages you to keep going…
Good Morning, Fam! The gift of life has been granted again...cherish this precious gift. Today is your day!!...today's word is tenacity. With tenacity, it is impossible to fail. Without it, it's impossible to succeed. The world belongs to those who simply refuse to quit. The option of quitting has to be ignored, and the will to try again must always be pursued. There is, inevitably, always one more avenue to explore. Whether it is in your personal or professional life, if you think you have thought of everything, you haven't. If you think you've tried it all, you haven't. If you think you've reached the end of your rope, you haven't. Assume that the solution and key to your success lie just beyond your next attempt. Breakthrough is closer than you think!
Love yall*staythirstymyfriends*
Note to Self…
*If the situation’s not working, fix it or remove yourself from the situation!
*A dream deferred is not a dream denied
F.A.I.T.H
(Forsaking All others, I Trust Him!)
Be Blessed,
SRB
Comments (3)
Thanks, guys, for your comments. Man, I tell you...I truly didn't want to let it go but it didn't make sense when we couldn't obtain the rehab funds. Once we sell this building, we're going to start wholesaling and acquire some small SFR's. Based in the area that we're investing in, we're actively seeking some non-profits to work with. There's tons of money for affordable housing and the tenants that we serve truly need a break. Praying God's strength in ALL things :0)
Sonja Bell, about 14 years ago
Sonja, I believe we are merely stewards of God's money. NASB Psalm 50:10-12 says, "...every beast of the forest is Mine, The cattle on a thousand hills. I know every bird of the mountains, And everything that moves in the field is Mine. If I were hungry I would not tell you, For the world is Mine, and all it contains." Then in PS 50:15 He goes on to say, "Call upon Me in the day of trouble; I shall rescue you, and you will honor Me." It's all for His glory. Carlos
Carlos Flores, about 14 years ago
Sonja, I think you have the right approach to the loss. Not ever deal can be a winner. You moved forward, found an exit strategy and are better prepared for the next deal. All I can say is Great job!! PS. Glad you found a good owner for the apartment.
Kevin Kaczmarek, about 14 years ago