The Harvard Study Never Existed, But the Power of Written Goals Does
Wednesday, January 05
Perhaps you've heard this famous Harvard Business School study on setting goals.The study followed the class of 1979 to see how successful the students would be over time.And what it found was astonishing.After ten years, 3% of the class had a combined net worth greater than the remaining 97%!It ...
Invest Like Warren, Not Jimmy Buffett
Thursday, May 28
Lots of people claiming to be Warren Buffett-style contrarian investors will soon find that they're actually "Jimmy Buffett investors."Warren Buffett has said that the secret to his success is that "we attempt simply to be fearful when others are greedy and greedy only when others are fearful."R...
Off-Market Deals Won't Be Great Bargains In the Coming Months
Tuesday, May 26
Usually, investors want to find off-market deals. Sometimes you get real bargains this way. Or at least you avoid over-paying in a bidding war with dozens of other investors. So your effort is more likely to be rewarded with a closed deal. But, in the wake of coronavirus, the world has flipped....
The Billions in "Dry Powder" Won't Support Multifamily Prices
Monday, May 18
An argument's going around that makes no sense.It's the argument that Multifamily prices won't fall because of the billions of dry powder on the sidelines waiting for good deals.As multifamily prices climbed in recent years, more and more capital went to the sidelines to wait until prices became ...
Does Cash Have Cooties?
Wednesday, March 20
The way some real estate investors act, you'd think that cash has cooties.They fear it, as if it has germs.They cannot stand to have cash uninvested and they are desperate to get into a deal. Any deal.These investors misunderstand cash.Cash is an option on opportunity.If you don't have cash set a...
Clearing Up Confusion About Cap Rates in Multifamily Investing
Thursday, October 26
Last night, I had a horrible time getting to sleep. I did exactly what I should not do before bed, which was look at my phone. I know - no devices after 9:00 pm, because it scrambles your sleep circuits. But I was excited because someone in one of my groups was asking a question about cap rates a...