Reading and Thinking
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Warren Buffet once said: “I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in business. I read and think. So, I do more reading and thinking, and make fewer impulse decisions than most people in business.”
Oh, how I wish those words and actions were undertaken in an earlier life when the onward daily addiction of deal making was the first and foremost consideration! Going forward, it will be my pleasure to share, on occasion, real estate investment and development books and articles from authors I know and have dealt with and/or have respect for and trust in.
The first shared offering is a manual authored by mentor Virgil Opfer and Dan Harrison entitled “100 EQUITY MARKETING FORMULAS,” which is always kept by my desk. Each formula has a one-page explanation that further opens up my mind to solution-based ideas using non-cash equities to create cash and cash flow, partnerships, down payments, financing, leasing, and options, using created mortgages/notes to acquire, sell, structure, and so on.
For my Canadian readers:
The only difference is to realize some wording such as “notes” and “deeds of trust,” when Canadianized, refers to “mortgages” and “promissory notes.” Except for a very few ideas specific to the US, most of these formulas are readily available for application in Canada also.
Also, remember, these concepts apply to all real estate and personal asset classes, from a single-family lot, boat, and so on to multimillion-dollar investment portfolios, limited market projects, and so forth.
Read, Think, and Enjoy!
