If you're looking for an investment, wait patiently and work to uncover a great deal — one that has nowhere to go but up.
They say you shouldn’t buy the nicest home in the neighbourhood. This is because it will always be sold at a discount. The values at the low end of the market will always tend to reach higher because of their potential.
Don’t be in a hurry. Wait patiently for a deal at the low end (that is in proximity to high end). When you buy low, everything you do to the asset adds value.
You can make mistake-after-mistake and everything will still be okay. Because there is a goal in mind (lease/flip deadline), you keep pushing the progress forward; putting in sweat equity you don’t even realize. You forget about the value you’re creating because you’re too busy complaining about problems, then solving them.
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