If you are like me I am a creature of routine. So, this morning started like most mornings for me. My routine on a typical mid-week day is to get my workout in, go and inspect some of the investment properties, get a STRONG coffee at the Starbucks drive thru and stop at the bank to make some rental income deposits.
Well this morning while I was doing this here is what happened to me:
Happily Happily Happily – LUCKY
1. Found out that a recent property myself and some partners invested in to the tune of $850,000 may be worth around $1,250,000 in the next two to three months. We purchased the property just over a year ago.
2. A difficult to lease commercial property now has two tenants that are competing to get into the vacant space which will easily take the cash flow return to 16%+ per year. Yes, that is annual.
3. At a Credit Union drive thru I was customer #10 on the 3rd of the month which means I get a gift of a $100 bill from the Credit Union! Now that is the kind of drive thru banking I love! Crisp $100 bill!
I guess you could say that so far today I have been one lucky guy. Plus I still have most of my day left too!
What Does Luck Have To Do With REI?
But I want to tell you that really, luck has nothing and has everything to do with it. You see there IS such a thing as luck. For eons people have been debating about whether or not there really is such a thing as luck.
How many times have you heard a story about an investor getting lucky when he or she bought a property for “X” amount of dollars and sold is later for ten times “X”.
The other day a client told me about his brother that bought a manufacturing business for around $400,000 and sold is 5 years later for about $3,000,000.
His comment to me was that his brother “got lucky”.
—->Well, let me tell ya, LUCK DOES exist. But not in a way that most people think it does.
How To Get Lucky In REI
For example many people do some weird chanting or repeat affirmations to themselves or picture themselves being lucky. Some even buy stuff like the old lucky rabbits foot or maybe try to get a four leaf clover. Or maybe have certain clothes they wear on certain days – you know the “lucky tie” kind of thing. You can do all of this ‘stuff’ if you want and entertain your friends and family in the process I might add but none of this will work.
When you see investors getting lucky and making fantastic returns on their money they are getting Lucky but they are and have been creating their own luck in order to get lucky. They created their own luck by acting and investing.
Question is are you going to ACT on these and then create your own luck or let someone else be lucky??
As you continue on this week – think about what you could or should be doing to create more luck for yourself.
Instead of leaving things to chance you can manufacture it and be just as lucky as the other investors involved in real estate investing projects.
Should be a good rest of the week and into the weekend. We’ll see if I have any MORE luck on Saturday and Sunday.
You have to love that $100 bill at the drive thru!