Turn Off Your Televisions And Burn Your Newspapers

I just put down the phone after talking to a young real estate investor in Houston. He is making money hand over fist, in spite of the bad economy, and the recent devastation in the area by the hurricane.

The key ingredient in his success?

Adaptability.

He has shifted the primary emphasis of his business 4 times in ten years, and has never experienced a slowdown, no matter what is going on. He doesn't have employees, keeping his operation lean, mean, and ready to go for the green.

Now he does have people that work for him, but they aren't part of his operation. They do all his legwork, and paperwork, so he can focus on what deals to do. "I just sort things out, and prioritize deals. I rank them, and start going down the list.
When I find a deal that's doable, I'm on the phone."

And the thing is, 99.5% of his deals are done on the phone. His office is in his basement, and he works when he wants to. "I have a general schedule," he says, but it can change at any time. If I'm on a real roll, I might stay in my office for days.
Then, when it slows a bit, I might just spend two hours a day in the office, and the rest is family time."

But it's a rare day that he doesn't make a deal.

He is content some days to make $10,000.00, and spend time with his young children. But other days he has made $100,000.00 or more. And he continues to prosper no matter what the conditions in the market are.

He isn't bothered by the current liquidity problem because he is 100% liquid himself. He doesn't need banks, or lenders of any kind. He buys and sells so fast that it would make most people dizzy, but he says that is all part of the fun.

He didn't come from money either. He started his business with around $2500.00, and now he has that in his pocket in cash every day. "It's a reminder of where I started, and it was all that I had. If I lost that today I wouldn't even blink."

Sometimes he has given that $2500.00 away. "There is always somebody who needs something, and I've been blessed. Besides, it comes back to me anyway, so I can give it away again."

When I asked him what he would tell people today he said, "Tell them to turn off their televisions, and burn their newspapers."

Amen.

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