Be careful who you listen to

February 22, 2023


Hey guys, let me tell you a funny story. So there’s a minister, a computer expert, and a boy scout on a private plane on their way to a meeting.

Halfway across the trip, the pilot comes outta the cockpit and says, Hey, I got bad news. The plane’s gonna crash, but there’s four of us and only three parachutes. And I’m gonna take one because I’ve got a wife in four small children. And he jumps outta the plane.

The next guy that comes up is the computer expert, and he says, I gotta take a parachute because I’m one of the smartest guys in my company and they need me. And he jumps out of the plane. Well, who you have left is the minister in the Boy Scout. The minister looks at the Boy Scout and says, Son, uh, you’re at the beginning of your life and I’m at the end of mine, so I’m gonna give you the parachute and I’m gonna go down with the plane.

The Boy scout says, Relax, minister. The smartest guy in the world just jumped out of the plane with my backpack. So what is the all of my story?

The moral my story is, is there are a lot of people out there who claim to be the smartest people in investing in real estate, in stocks and mortgages, all of that stuff.

I’m not holding myself out as any of those people, but what I want to caution you more than anything else is be careful who you listen to. I’ve heard some really smart guys speak very positively about the market. I’ve heard some really smart guys speak very negatively about the market. What I’ve concluded is that really nobody knows what’s going on the end of the day.

We all need a house to live in, and we need to protect our money against inflation. You know, I’ve been in the business since 1987, and I can tell you this, some of the wealthiest people I know personally are the people that invested when the market tanked.

When the market tanked in 1990, that market, climate continued for a long, long time. And those people continued to buy when nobody else was buying. And today, they’re some of the wealthiest people I know. So when you’re taking real estate advice, yes, there’s no question it’s scary out there, but real estate has dropped in our community upwards over 20%. Guess what? When you go to the grocery store or you go to any kind of retail store and you see prices adjusted by 20%, you take advantage of the opportunity. And that’s what I’m saying to you, Take advantage of the opportunity. Is this thing over yet in terms of market drops?

Only time will tell, but I, I know this. If you’re waiting for rates to come back down, guess what that’s gonna do? It’s gonna push prices back up. Okay? So your real estate is on sale.

Obviously practice prudence and due diligence before you buy, but be careful who you listen to because the smartest people in the world, they don’t have the answers all the time either.

Anyway, that’s my story today, and I hope you have a great