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This market can scare some or most people. I was back in my home town Las Cruces, N.M. on vacation for the holidays and everyone was so much in fear about the economy, inflation and most of all housing. My family is not very opened minded at all, especially investing in houses. I told my father that we (wife & I) purchased another house to repair and sell. The first thing that came out of his mouth was the bank lent you money? How? They are all failing left and right. I smiled and said ?Dad, you don?t need the bank to buy houses.? He looked at me and said; ?You must have a lot of money then.? I left it as that because he would not understand if I explained it further. Not only my family thinks I am crazy for buying another house, but my x-partners have abandoned RE all together. They also told me I am too crazy to buy a flip property especially in the Arizona market.
Well we all have our opinions, fear factors and some of us have a lot of negative influences from friends and even family members, as I just found out. BUT, I have faith in myself and my supporting wife. Napoleon Hill said it best; ?People refuse to take chances in business, because they fear the criticism which may follow if they fail. The fear of criticism in such cases is stronger than the desire for success.?
If you are a true investor we all have failed once in our lifetime. I have had my expensive lesson in the past I am still standing, buying, selling and living. I have recouped my previous loss and now looking towards a bigger a better future. This market will produce a lot of new millionaires and financial independence for people. We all just have to study markets more carefully and learn new ways in investing. Just thought I would share my X-mass thoughts now that I am back in Arizona and finishing up the rehab.
We really love this business and wish all the Cash Flow Depot members the best in 2010!
HI Vic
You’re experience is common. “Civilians” just don’t understand what we do.
We should all be concerned about the direction this economy is heading in. But you can’t let it paralyze you.
There are opportunities in every economy.Different markets create different opportunities.
Wishing you the BEST in 2010!
Jackie
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