The Real Estate Investor’s Resource

Turning Intentions into Action

Bubbles, Booms and, Busts

I must be getting old-this is the third time in my adult life that I’ve experienced a down economy.   I remember when I graduated from college, things were not good and jobs were hard to find.  Back at that time, my question was, “Is it really that bad or is that just what “old” people always say?”

Back in 2000 when the dot com bust erupted, the economy was tough once again.  I was in real estate but also in the IT field.   I created a seminar for the IT world on how to succeed in a tough economy. 

Now, here we are again in a tough economy.   What do I do?  Create an Ebook, How to Sell Your House NOW! Even in a Tight Market.  Then it hits me and I think, “Wait a minute, I’m getting old!  This is the third time I’ve seen this tough economy thing happen.”

Did I forget to mention that I’ve also experienced some “hay days”?   Oh, yeah.  See, somewhere prior to a bust, there has been an extremely good time for making lots of money.   For me, those times and opportunities have been in real estate, telecommunications, and IT. 

Do we forget that things go in cycles and that when things are down, there will be an upside.  It’s all a part of the cycle.   Let’s look on the bright side.  The issues of today’s economy provides opportunities.  As real estate investors, we have the opportunity to buy at great discounts and at low interest rates.  We can help people turn their lives around by saving them from foreclosure.  Then one day, it will change yet again; and we’ll be enjoying the upside of the economy and the cycle.  We’ll just have to make that mental shift to seek and find what works in that market. 

The struggle most people have is how to respond when there is a downturn.  It’s human nature to become set in our ways.  Just when things seemed like they were working right, along comes a change and being the human creatures that we are, we resist.   What we resist persists!  When there’s a bust, stop resisting.  Let go of “what was” and look for for the “needs” in the current market.   Open your mind to what else is available.   You never know what you will find -you might find your true passion, a new way of doing business, a new business all together -who knows what you will find.  It may even be better than your original plan.    Seek and ye will find -even in a downturn.  It is often simply a matter of changing your mindset. 

WSBTV has a great article from Business Week on their site.  The article tells us why booms and busts are good for the economy in the long run.

http://www.wsbtv.com/money/16584252/detail.html

 

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June 14, 2008 - Posted by | Uncategorized | , , , ,

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