As I was reading my Bible for my daily devotion I came across this Proverb and it got me thinking of my (again) Real Estate Investment Losses and the whole real estate Market.
Proverbs Chapter 28 verse 22
"A GREEDY man is in a HURRY for WEALTH; He doesn't know that POVERTY will come to him."
Yikes! If that is not self explanatory for what has happened to me, I don't know what is.
'HUMAN NATURE DOES NOT CHANGE'.
Even the Bible that has been written thousands and thousands of years ago still APPLIES today even in INVESTING.
GREED: I had my reasons to want more and believe me it was all NOBLE reasons i.e. For my Children's future, retirement.
HURRY: As I have mentioned before I did feel the need to hurry because it felt like that if I did not act then I would never be able to do what I need to do due to the prices skyrocketing by the minute.
WEALTH: Of Course, Why not? The thought of "I do not have to worry about making so much because I have enough money in the bank." is a good motivation for me back then.
The last sentence "...He doesn't know that POVERTY will come to him."
Ann O., Perry and some other people out there had Market Indicators that was telling them that this recession was well on it's way but not the MAJORITY.. including me, a real estate agent, a fan of "RICH DAD POOR DAD" book and thought to himself "Well I want to get out of that Rat Race so I think this is the way to go.
So lessons learned are the following:
1. I learned to wait and be patient. Right now I am waiting for the market to tell me when to move rather than me telling the market "NOW BECAUSE I NEED AND WANT IT NOW."
2. Before getting into anything I do a lot of INVESTIGATING, asking the right questions, looking at different market indicators, statistics before thinking again "should I or should I not? Now? Really?"
More importantly I learned to pray harder, read more (Bible and other books) and to actually LISTEN to the Market.
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