Marathon and Real Estate!

A friend of mine is training for a marathon in a few weeks and I have been amazed at what it takes to train for the marathon.   It is a daily routine of packing meals for the day, having enough water and getting those precious miles in.  Little aches and pains have to be dealt with and for the most part, pushed to the back of the mind. 

It is a 20 week training regimen culminated with a 20 mile run with 3 weeks before the race.  This regimen does not necessarily prepare you to win the race; rather it is designed for you to SURVIVE the race!

What do you do with your real estate to survive the changing market?  Do you train every day?  As a real estate investor and real estate salesperson, I am constantly evaluating the market, marketing techniques, creative financing options and anything that will help me to maximize the value of my property and the value of my business.

I have learned a lot from my marathon friend.  You see a marathon is not a sprint where you go with all out effort.  You must pace yourself.  Your long term goal in real estate is to pace yourself for the long haul.  Many investors in the past 5 years, got themselves into trouble by thinking they could buy a property and then flip it quickly and make an easy profit.  I have participated in two of those deal and did very well, but I invested within my means.

This is the key to running the marathon as well.  You must pace yourself and not start out of the gate too quickly.  If you do, this will cause oxygen debt and you will be off your pace for the entire race.  In real estate investments, keep a steady but controlled pace.  Do not buy something that is out of your means to cover the mortgage.  Always, buy something where the going market rent will be able to cover your mortgage in case of an emergency.

If you are interested in learning more about my investment portolio and other investment opportunities, go to www.MichaelDunn.com or send me an e-mail Mike@MichaelDunn.com

Happy investing.

Mike

Posted: October 5th, 2008 under Hot Tips, Real Estate News.
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