Some direct but wise words I learned from a 70+ year old investor

[Alan Asriants]

Was talking to someone who has been in the Real Estate business for a long time. We drove around for 3 hours and looked at the land he owned. During that time I took note of some important lessons he had to offer. While very direct, they were solid points...

He told me a few interesting things:

1. "Know when to hold them or when to fold them"

2. "I never knew someone who went bankrupt making a profit"

3. "Don't be greedy. Don't think what you have is worth so much, you'll end up holding on for too long and losing. If you're too greedy you might miss an opportunity right in front of your eyes"

4. I told him that it doesn't make sense for me to do a project for a 30k return, that there is too much risk. He looked at me and said: "how much do you think you are F***ing worth?"

Made me really question that...

5. "The brighter the dirt the better the soil"

6. "You don't have to be a smart motherf*****r to make money"

7. "I price my product to sell. I know I could've sold for more, but I don't get caught up on that. Knowing that I sold it and made a profit is better than sitting around and hoping it sells."

8. He told me that we are in short supply of affordable single family homes (under 400k). Unfortunately it isn't profitable to build.

These are not direct quotes, but to illustrate what he said to me.