Go To Where the Puck Will Be, Not Where It Has Been
I’ve recently read a great Don R. Campbell article on strategic real estate investing and I thought I would share it with you, particularly with any buyer(s) out there finding themselves caught up in the game of “chasing the market”.
As Wayne Gretzky once said, “I skate to where the puck is going, not where it has been”.
Wayne’s advice not only applies to hockey, it also applies directly to sophisticated property investing. I’m not the only one who uses that analogy: Warren Buffet once wrote in his annual letter to shareholders that he follows Gretzky’s advice and invests where the puck is going, not where it has been. So whether you play hockey or not, you can use this piece of advice when looking at the real estate market.
It has been proven that many investors make their decisions based on where the market (puck) is – and that is why they create average results while creating higher risk. Sophisticated investors understand it doesn’t matter where the market has been, it all has to do with where the market is going. And once you identify its destination, get there before the market does and you will do incredibly well. read full article >>
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