Thinking of Investing in Real Estate in the Charlotte area? Are you really…or just an impostor?
Donald Trump has a very interesting book about investing in Real Estate named “The Best Real Estate Advice I have Ever Received”
There is a chapter by Dorothy Herman, President and CEO of Prudential Douglas Elliman, the largest and fastest growing real estate firm in N.Y. city.
She tells a story of her first boss in the business teaching that you can just sell Real Estate. If you want to build wealth you need to invest in Real Estate. Most of the self made millionaires in this country made their money investing in Real Estate. He went on to tell her that she should start now.
Her replay was that it was the 1980’s and that interest rates were 18%. it is not a good time.
He said ‘ There is never a wrong time to buy real estate’. When times are good, people complain about the deals they missed. When times are bad, they claim they can’t buy ‘right now’ because prices will fall more…
The lesson to be learned is that the way to build wealth is via real estate, good or bad. The only constant is change. Change brings new opportunities and you have to be on the lookout for those opportunities. There is never a bad time, just bad strategies.
Twenty Five years later, this advice is still good advice.
So, we ask again. Are you really ready to invest or are you an impostor. If you continually say to anyone that will listen “Things are going to fall further”, then you might well be an impostor finding yourself saying ‘I hate I missed that one’.
