When Sincerity is just not enough Whether In Basketball Or Investing in the Reno-Sparks Real Estate Market and Beyond (part 1 of 3)

About this post: Joe connects his experience in losing a very important basketball game and his losing in the Reno-Sparks Real Estate Market in 2005.

If you read our About Us page you would know that one of the things I love to do is play basketball.  I may never know the exact reason for my passion in the Sport but my guess is it's because of the competition and the drama and everything in between.  I guess men never really grow up when it comes to our little adventures.  Plus, it keeps me in shape.

Recently, for the past fourteen Sundays I have been playing in a Basketball League and for two years in a row now, to our dismay we again lost the CHAMPIONSHIP GAME. 

What also hurts is that we just did not 'just' lose the game. We got KILLED (losing by a staggering 30 points.) There are a few reasons for our disappointing loss.  A few key factors which I relate to Real Estate Investing as well.

One, in basketball in order to win you have to have the BEST players.  What I mean by that is that they should know their particular roles in order to function as a TEAM. We all heard about professional or amateur players that only think of themselves and not coincidentally, brings their team all sorts of things, except the ultimate goal- the Championship.

Same with Real Estate Investing, In order to be successful (Win) you have to have the BEST people working with you to reach your goal.

First is your Loan Officer who should handle your loan to your benefit REGARDLESS of what he or she would make(commission) in the Origination Fee (front charges) and their Rebate (back charges).

Second is your Real Estate Agent.  He or She should Listen to you. "What are my client's objectives?" and should tell you what the Market says about it whether or not you would like it.

In Athletics the Best Players have the following attributes:

1.  STAMINA (he who runs fast and longer will almost always win the game)

2.  TALENT (God Given, but the I believe we can also develop this through right practice)

3.  And of course, the one and only thing you cannot teach, HEART (Determination,Passion,Commitment).

In Real Estate your Loan Officer or Real Estate Agent should have the following attributes:

1.  MARKET KNOWLEDGE- Knowing what the market has done and is doing gives you almost an unfair advantage in knowing (an educated guess but probably better than the guy invited in the media as the so called 'expert'.) where it's going and why.

2.  MARKET SKILLS- Having the knowledge that comes from having the "know how" to get around certain loop holes or hiccups that could affect your investing whether in the positive or negative side which the consumer would normally would not really know.

3.  INTEGRITY- Like the HEART(possibly a player's best attribute) this part you also cannot teach because of the fact that we were all raised differently and we all have different "beliefs" on how we should be treated and treat others.

To be cont...Read Part 2