Here’s something to think about: How come you never see a headline like “Psychic Wins Lottery?”
Jay Leno

This is what I think about when I hear people in the media talk about the US housing and financial markets. They all act like they know exactly what’s going on, why it’s going on, and what you need to do about it. For every one of those, you have five saying to do the exact opposite. If they knew the right course of events, they would NOT be telling us about it, because they would be too busy drinking a pina coloda on the beach somewhere.

If you want to know what to do about anything, here it is:

• Learn from other people’s EXPERIENCE.
• Don’t take advice without a proven track record.
• Sometimes, the right thing to do is “go with your gut.”
• Don’t listen to family. A family member will talk you out of a great thing faster than anyone. Trust me.
• Take chances! Sometimes you’ll fail, but you’ll learn what doesn’t work, and that paves the path to what DOES work.
  • For instance, I graduated with a guy who decided to get in the “house flipping” business. He had no real estate experience whatsoever, but decided it was time to try. He lost money on his first flip, a failure. He persevered. He made $2,000 on the second flip. He persevered. He turned the corner on the third one and made about a $35,000 profit. Yes, he failed, but in failure, he learned the path to success. Now, armed with knowledge, he is actively seeking out more homes, and has some cash in the bank to boot.