Once upon a time there was a young man who learned the art of the deal. He realized that a good real estate deal could reap so many financial benefits in so many ways that he built a lucrative empire on this understanding. He bought properties steeped in equity and then pulled out all the surplus cash and either lent it out to other real estate investors, or bought other deals ripe with equity. This strategy worked really well until the housing bubble burst and with it his dreams of grandeur. He learned a few huge life-lessons in the crash: 1.) Don’t overextend yourself, and 2.) Don’t work solely for the almighty dollar.
This is a true story… It is my story. When I first started buying and selling real estate, I was driven by an insatiable desire for palatial homes, lots of toys, and big bank accounts. When I lost it all, I realized I wasn’t fulfilled by my previous motivations. Even though I had everything before the crash, I became nothing without it. It was a very hard lesson, but an extremely valuable one.