Some of the best‐kept secrets aren’t those held close to the vest, known only to a select few. Those tend to be the secrets that eventually get out – one way or another. Whether whispered to a private confidante and then repeated for the world to hear or quietly passed from one person to the next, the best way to ensure that something is known to one and all is to attach the word “secret” to it. If you’re really interested in keeping a secret, tell everybody you know as publicly as possible.
There’s really no secret formula to creating wealth – even in a down economy.
While there’s no magic formula, it seems that nobody knows how to do it, because so much attention is focused on finding the silver bullet that will help you reach all of your hopes and dreams that you overlook common sense and let the senselessness of raw emotion take over. Here’s the “secret” formula that will guarantee your success:
• Keep your head screwed on tight – First and foremost, you can’t afford to get carried away by irrational fear. Life runs in cycles and so does everything else. Whether you’re talking about real estate investing, the economy, or just about anything under the sun, remember that there are good days and bad days. Don’t get carried away by the emotion of the moment, because moments, like time, will eventually pass. As long as you stay grounded in reality, you’ll do just fine.
• Ignore the so‐called experts – In many cases, an expert opinion is nothing more than somebody’s best guess, based upon an analysis of facts and figures. Expert analysis is regularly
wrong, though. Look at how many ball games and political campaigns had very different
outcomes than expected because of an unknown variable or unanticipated change. God gave
you a brain for a reason – and it wasn’t to prevent that annoying whistling sound the wind
would otherwise make when it passes between your ears. During down times, it’s especially
important that you analyze deals independently of what the experts say.
• Knowledge is Power – It’s important that you know what you’re doing at all times, but during hard times it’s more critical than at any other time that you know what you’re doing. If you’re not well‐versed in a variety of real estate investing techniques it can seem almost impossible to make money – regardless of fast‐changing conditions on the ground. Do yourself – and your family – a huge favor and learn everything necessary to take advantage of emerging
opportunities. Until the credit crunch, a lot of real estate investors had very little knowledge
about how to work a short sale or invest in a foreclosure. Now, there are so many self-proclaimed experts talking about these techniques you don’t know who to trust – and who to ignore. Invest in yourself and your future. You’re worth it.
• Buy Low, Sell High – This timeless secret is common knowledge, common sense, and is
commonly overlooked by hundreds of thousands of investors of every imaginable stripe on a
daily basis. Real estate investors, stock investors – and others – get caught up in trying to ride a
wave to its inevitable crest. Instead of getting out of an investment at the right time, they get
greedy, and hang on to the investment longer than they should. The price drops like a rock,
they get scared, allow panic mode to set in, and sell for a loss. Sure, everybody knows how to
buy and sell smart. How come nobody remembers to do it when it’s their money on the line? In
a down market it’s even more critical that you write this secret down, memorize it, and abide by it. If you do, you’re well on the way to making money regardless of the market. If you don’t –
well, there’s always next time…if there is a next time.
• Run the opposite direction of the crowd – It’s been said that in a down real estate market, the herd mentality tends to take over. I disagree. Instead, I think the flock mentality takes over. Sheep are dumb animals – possibly the dumbest animals in existence. If one walks off a cliff, they’ll all follow. It’s even more important in a down market that you do what the numbers tell you to do – regardless of what the rest of the flock does. If everyone is selling out of fear, they’re essentially throwing themselves to the wolves. Do you see the Warren Buffet’s of the world doing this? Nope…they’re digging up every dollar they can get their hands on and buying up as much as they can get their hands on. That’s the secret to their unbelievable success. They rush into the game and buy when nobody else will.
If you obey these five secrets, you’ll be on your way to succeeding regardless of what the market is doing. If you’re especially vigilant to remember these five secrets – particularly during a down market – you’ll set yourself up for astonishing profits and stunning wealth creation. So put them to work for you today. When somebody asks you, “So, what’s your secret?” you can honestly say, “Well, it’s really no secret.”
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