There's reason to be afraid - even as markets improve.
Risk always creates fear.
Fear is the unknown, pure and simple.
I know, it's easy for me to say that, because you're the one looking at putting up some major cash believing you're gonna make it back, PLUS !!
So, that video above was made by me - believing everyone would see the value I saw.
Truth - I still own this and have over $110,000 wrapped up in it.
Despite my best efforts, I still own it too !
Yup. Great location.
Yup - land is worth much more than my asking price.
What's the problem - why be afraid ?
No matter how badass you are, sometimes the rest of the world doesn't share your opinion/view.
Depending on your ability, financial or otherwise, you can weather the rest of the world.
In my case, with the property featured above, I'm cool.
My investor ?
They're cool too, because I take care of my investors - and you should too.
I'm not going to go too deep, because I think you know where I'm going.
Point is - even when others believe in you, and your value system, make sure that you provide those "others" with security - if, by chance, your judgement was less than stellar.
Don't be right, be forthright.
Don't be arrogant, be humble.
Don't be offensive, be straightforward
Don't be afraid, be responsible.
This will be short and to the point -
You don't have to be a real estate expert to know the past values of real estate, understand the historical cycles of real estate AND to see the "potential" of values to come - history repeating.
I've said it and I'll keep saying it - values WILL climb and the economy will improve, despite all the naysayers/doomsdayers.
Look, life is pretty straightforward, right ? - relating to opening a 401K, investing in stocks, bonds or whatever investment strikes your fancy.
You save for "X" number of years and interest - maybe even compound interest works in your favor, ensuring you a comfortable retirement.
Truth is, instability has ruled the stock/bond and mutual fund market over the last 5 + years and many nesteggs have been compromised, forcing many back into the workforce and extending other's plans for retirement.
Real estate has, always, been the number 1 creator of wealth.
It's tangible, physical and always in demand - though supply is always a governing factor.
What sets real estate apart from other investments is the consistent returns - "high markets" excluded from new investments (Meaning those who buy at the height of the market, for investment purposes, will lose - and learning to recognize those heights can be a painful - and costly - education.)
If you have some cash that is accessible, have enough understanding of your, local, real estate values - or enough sense to align yourself with someone who does - and you're willing to invest in real estate, as opposed to the current stock "casino", this market offers you astounding opportunities to grow your wealth, significantly.
Educate yourself. Learn about your local real estate market/opportunities and open your mind to the possibilities.
Right now, real estate is for sale at scratch and dent prices.
If you learn your markets, do the math and see the optimistic future, you have a window of opportunity to make great things happen - to your bottom line and future possibilities.
Get excited and get going !
16% ROI is a VERY real possibility - on EVERY property you flip in 2012.
Flip 2, 3 or 4 this year - each at 16% ROI - and you're a rockstar !!
I'm cool with them - just ask.
We associate the term "entrepreneur" with those brave enough to go out on their own, not conform to traditional corporate standards and who come out alive to talk about it.
Traditional corporate standards has many employees unhappy with their current supervisor, pay or some other facet of their job.
Seemingly, there is a direct relationship among how dissatisfied someone is with their current condition at work and the allure of starting a business...of being an entrepreneur.
Though, many stop at the point of imaging themselves as a business owner and never go through with the prospect entrepreneurship due to the risks involved.
This is probably one of the more ironic facts about entrepreneurship and, in general business as no true success can be obtained without taking risks.... calculated risks.
Below, you will find some perameters to help you calculate whether your leap into entrepreneurship is a calculated risk or deserves a little more thinking before doing.
Testing Out Your Product or Service:
The product or service is the lifeline of your business and from the onset either puts the entrepreneur at an advantage, a level playing field or a disadvantage.
Here are some questions to best help you aim for the 1st of the 3 aforementioned options:
1) How Important is Your Product or Service to the Public?
Businesses that try to create a demand in an industry that currently has no demand nearly always fails.
When it comes to products, most new inventions end up costing the dreamer dearly to the extent that commercials selling various patent software and invention related products / services must include a warning in their ad informing the potential entrepreneur of the risks involved.
If you have an undying love for inventing new things, I strongly recommend that you make it a 2nd business to start, though completely putting it aside until you are successful starting up a 1st business that you both enjoy and that has current market demand.
2) Do You Need Heavy Licensing? How involved is the Government?
3) How Easily Can You Get Sued?
If you answer some form of "a lot, many, exceeding high," to the above stay away from the industry.
The above three roadblocks can put you out of business before you even get in.
Capitalism has its advantages and disadvantages. One of the brighter sides of being an entrepreneur in a capitalist country is that you don't have to consistently be dealing with the government.
Also, if you answer "very" to the last question in the group, remember that you will probably have to shell out a tremendous amount of money in insurance every year.
Sometimes, these expenses can cut so deeply into a person's bottom-line that the business no longer becomes worthwhile running.
To get a 1st person opinion, you can ask your local doctor as to how pleasant their insurance costs are the next time you have a checkup.
At mikcohen.com - we enjoy sharing insights, helpful tips and specific information. Feel free to comment and share your knowledge and experience, but please keep it respectful.