Flip Tip Summary
Do you respect your money and money you’re responsible for? Bryan Ellis joins us on this FlipNerd.com Expert Tip episode to share the importance of this core value, and it’s importance on your success as a real estate investor.
Flip Tip Transcript:
Mike: Hey, it’s Mike Hambright from FlipNerd.com and we have a quick Expert Tip to share with you from Bryan Ellis, who’s going to talk about the core value that determines your success as a real estate investor.
This Expert Tip is sponsored by RealtyMogul.com, B2RFinance, and National Real Estate Insurance Group.
Bryan: Folks, there is one core value that I have observed, that makes all the difference in the world, for whether you’re going to be successful as an investor, particularly as someone managing your own portfolio and that is, do you respect your own capital? You see, you are the only one who’s there to respect it.
You don’t have a broker, you don’t have a financial planner, you might have those things, but at the end of the day you know that it’s your responsibility to make all the decisions. You have to respect your own capital. You don’t have a dollar to lose. You’re not a venture capitalist. You don’t get to play the odds. This isn’t the sort of thing where you’re going to be okay if you win seven out of ten times. You can lose three and that will be okay.
You have to be smart enough to win basically every time, but that is just a platitude without a strategy. And the strategy to make that happen is to make sure that every asset you invest in is consistent with the S3 model of investing. Simple, safe, and strong. Is the thing you’re thinking about investing in, is it simple enough to explain to someone of average intelligence in 30 seconds or less and make them go, “Hmm, that’s interesting. I’d like to know more.” If it’s not that simple, it’s probably too complex.
Is it safe? Is there a plan B such that if you’re entire assumption about the investment was wrong, are you going to lose money? Or is there a way to protect your principle and maybe even protect your profits.
And is it strong? Are you going to be able to beat inflation? Are you going to be able to beat the S&P 500? Are you going to beat whatever standard that you need to adhere to, in order to achieve your goals? So the bottom line folks, is you have got to respect your own capital and the way you do that, is to invest only in assets that are simple, safe and strong.
Mike: We’d like to thank Crestar Funding, MidAtlantic IRA and Renters Warehouse.
Please note, the views and opinions expressed by the individuals in this program do not necessary reflect those of FlipNerd.com or any of its partners, advertisers, or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.