What Is The Most Valuable Lesson You Have Learned In RE Investing?

[Bryan Hancock]

I think that everyone can benefit from the collective wisdom of the board. What is the biggest lesson you have learned so far in your investing career? Your answer can cite a specific incident or general philosophy learned over the course of several years.

So far the biggest lesson this depression has taught me is that leverage is much more dangerous than I ever thought it would be. I always thought that RE was pretty stable so leverage was just a way to acquire more property very quickly. The last 2 years have demonstrated that my caution about leverage was a good thing.

Anyone else care to share their most valuable lesson or lessons learned?