Millionaires vs. Zero Worth: Why Considering the Source Matters in Real Estate and Beyond! - Minute Mondays EP_102
Millionaires vs. Zero Worth: Why Considering the Source Matters in Real Estate and Beyond! - Minute Mondays EP_102
Before taking advice from someone, you might want to consider the source. I'll give you a real estate example. When I got into the real estate business, I came across people who said, Hey, I'm not ready to buy because the market's going to crash and I'm going to wait for the market to crash. Well, look, 8 to 10 years later, real estate values have doubled and the average homeowner has a net worth of 620,000, while the person who's still waiting for it to crash is worth probably close to zero.
So that seems to be a common thing now again today. Markets have come down a bit, maybe not crash like people think, but it has come down. Great opportunity to buy. Markets come down. Same people are waiting for the market to crash. The problem is, by the time anybody noticed that there has been a significant difference, the market has come back.
All I know is that the people who tend to continue to invest tend to have higher net worth. But my point, going back to what I was saying, you have to consider the source. Now, someone who's in the business or someone who has plenty of investment properties tell you, Hey, hang on, that might be something to listen to.
But if you have someone who has never owned a piece of property and is telling you to hold on, you might want to think about that before accepting it. Now, that applies to everything, not just real estate. I use real estate as an example. Thank you for tuning in to Minute Mondays.
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