Thriving vs. Surviving in Real Estate

by | Mar 23, 2020 | Uncategorized

Welcome to the first edition The Double Down Newsletter!

Let’s make some sense out of what’s going on in the real estate market, and beyond.  We’re in uncertain times, and that calls for 3 Things:

  1. Mindset
  2. Skills
  3. Action – Relentless Action

Each week, we’ll share tips and strategies for helping you Thrive through today’s market by Doubling Down on what’s working best.  Feel free to share with your friends, too.

This Week’s (Virtual) Live Events
Streaming Live at facebook.com/MiddletonEliteCoaching

Digital Wednesday – 1pm EDT
Coach Ben Mathis walks you through how he and his Team conducted a virtual buyer seminar with 200+ attendees, and 60+ raised their hands to speak with a buyers’ agent and/or lender.Live Music Thursday – 5pm EDT
John Brewster brings his musical talents back to the MEC (virtual) stage to perform cover tunes and original hits.

Thought Leader Friday – 12noon EDT
Jenny Wemert shares how she, and Wemert Group Realty, are prepared to Thrive through changing market conditions.  In 2019, Wemert Group Realty sold $265M in sales volume and finished #34 in transaction sides in the U.S. according to REALTrends.

 

 

At MEC, we believe there are two actions we must commit to in order to Thrive:
Out-Think your Competition
Out-Work your Competition

In The Road Less Stupid, Cunningham lays out these thoughts very well.

 

Smart People Do Dumb Things.

How much money would you have right now if you were given the ability to unwind any financial decision you have ever made?

In turns out the key to getting rich (and staying that way) is to avoid doing stupid things. The vast majority of dumb tax in our lives is a direct result of 3 things:

  1. Generalizations (which kill clarity)
  2. Obsessing About Oz (instead of the yellow brick road)
  3. Faulty Assumptions (ignoring risk)

Operators react and sweat.
Owners think and plan.
It all hinges on Think Time.
– Keith Cunningham

Should I Avoid the Stock Market?
S&P 500 5yr Trends

 

 

 

 

 

 

We’re fans of minimizing down-side risk, while maximizing upside potential.  The concept, is outlined well in Mohnish Pabrai’s beautifully simple read, The Dhando Investor.
How does one do that? I’ll illustrate through the lens of bacon.  I love bacon, likely to a fault.  I’ve described a particular bacon as being life-changing. See: [Bill-E’s Small Batch Bacon (no relation).]When I was vegan for over a year, it was ultimately bacon that brought me back to the dark side.  I know the type(s) of bacon I like… thick cut, no nitrates added, hickory smoked (or applewood if I’m feeling frisky).  I know the price of the various brands I like.  So, when it goes on sale, I’m confident that it’s on sale.  When I buy, I buy with conviction… I buy both for the bacon itself, and for the price relative to its typical value.  In fact, I bought an additional freezer for the garage to house my stockpile of bacon (along with other items for when they go on sale).

Timing the bottom (or the top) of any market is impossible.  However, when you know the product… whether its Real Estate, Stocks, or Bacon… you can then buy with conviction.  That’s investing with minimal down side. Happy hunting!

 

 

 

 

 

 

 

 

 

Sometimes listening is better than attempting to fix things!
Remember… It’s Not About the Nail