In my real estate journey, one of the key lessons I've learned is the importance of utilizing data to evaluate markets and make informed investment decisions. While some may rely on gut feelings or emotions, I firmly believe that numbers should drive our choices. Feelings are important, for sure, but put the data first.

When evaluating a market, I emphasize the significance of considering both historical performance and recent trends. By examining how a market performed throughout a past real estate cycle, typically spanning a decade or more, we gain insights into its economic diversity and resilience during downturns. Additionally, focusing on the last five years allows us to understand the current trajectory and potential for growth.

Ah, the emotional attachment trap. It's a slippery slope. I've seen too many investors fall into that pit, letting their hearts rule their heads. Whether it's because they grew up there or have personal attachments, emotions can cloud judgment and hinder objective analysis. We need to leave emotions aside and focus on the numbers. I learned my lesson early on, mainly because I didn't live in the places that I invested in.

Let's face it, mistakes happen. I've made my fair share, especially in deal analysis and market selection. However, I believe that mistakes are valuable learning opportunities. They help us refine our strategies and adjust our criteria. By reflecting on my past experiences, I realized the significance of focusing on data and not repeating the same errors.

To succeed in real estate investment, it's crucial to prioritize the numbers over emotions. While a good gut feeling can be important, it should always be supported by thorough data analysis. This approach ensures that our decisions are grounded in solid evidence and objective evaluation. By following this principle, I have been able to avoid common pitfalls and make sound investment choices.

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