My first job out of college was in commercial leasing, and I learned very quickly that the way to build wealth in real estate was by owning it. But I needed to learn all the tricks of the trade. So I spent a few years in the trenches, learning how to buy, sell, lease, finance, and most importantly, suffer a few bruising losses.
If I had to sum up the definition of “investing” in a few words, it would be “learning from your mistakes.” As I’ve encountered the roadblocks to get to my current destination, the true secret has been to always learn from the mistakes, and of course, not repeat them again.
Life is a journey, and there are many second-level thinkers who have inspired me to win the race. As one of my mentors, Benjamin Graham said, “the most durable education is self-education.” In real estate, the most important words are location, location, location – and one of the best ways to become an expert in any field, is to always, learn, learn, learn.