Hard Money Bankers - The Most Important Rule In REI
There is one universal rule in investing that everyone has to know as a staple in their diet. 'Don't lose money' when investing. The only way to stay in the game is by not losing money. You will only lose 100% of your money one time so always analyze risk properly. I recently heard a presentation by a friend of mine and he asked the room if they would do a deal that had a 95% chance of making money and 5% chance of losing money. This is one of the smartest people I have met in real estate so his words usually carry weight. His answer to the question was absolutely do not do that deal. Run away from that deal. The point to statement was that you eliminate risk and never chance losing money. Rule 1 is "Never lose money in real estate investing". Rule 2 is "Refer to rule 1".
Ian Walsh
215.839.3271
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