What Parents Teach Us About Property Investments
A great deal of sweating of the brow and stressing of the brain is often employed when one decides to learn the ropes of property investments. There is no option but to enter this territory well-equipped — we all know mighty well there is no scope for taking risks. Any slip and a great deal of your money may go down the drain in this highly capital-intensive sector. So you read all sorts of help books and seek expert advice. You join specialised courses programmed to teach you the ABC and the XYZ of the real estate investing business. While many of you will have a great run while investing in property markets, other would find it hard to survive. What did go wrong in your case? What is it that the successful one did and you did not? Is it only a matter of fate? The answer may lie closer home; you only got to look back a little. While you did follow the expert advice and went by the book to become a successful investor, you may have forgotten the lesson your parents taught you when you were young.
They stayed calm when you ran wild
When you went wild with rage because you were not allowed to lay your hands on a toy that has taken your fancy, you cried, and jumped, and kicked, and created a scene, much to the awe of all the spectators watching you with keen interest. No matter how embarrassed they were by your behaviour or how moved they were to give in, they often did not show, neither the embarrassment nor the giving-in sentiment. In some time, you were back to normal and forgot all about the toy.
The takeaway: Real estate markets may take turns that could be quite testing of patience. Keep calm. The bad phase will pass and normalcy will be restored.
They did what was the best for you
How agitated you got when your parents told you they cannot give you the permission to visit a friend's birthday party because the said friend's house was quite far. Now that you are parents, you do the same with your children. Their safety first, right?
The takeaway: You are a better judge of your requirements. Do not follow rules that do not seem relevant to your personal position. What is good for me may not be good for you. Also, caution is the key in all walks of life, especially business.
And they did their best
To the best of their understanding, they did what was the best for you. They guided you and sometimes forced you to make the right choices. You may not have been able to appreciate their efforts as a young person, but, you have immense respect and gratitude for them now as a grownup.
The takeaway: Hard work pays off. Also, there is no alternative to this. Do your personal best to make your business grow.