Real Estate Investor Magazine South Africa Real Estate Investor Magazine - July 2017 | Page 56
ATLANTA
Times Are Changing
Don’t get left out in the cold
BY RJ PALANO
A
mature investor makes rational decisions
based on their overall game plan. However,
outside forces and new information require
critical thinking while adapting to a changing market.
None of us are immune to a more dangerous world,
disruptive forces, and the cost of being stagnant. We
all must adapt.
Of course, there are more tips for being a successful
entrepreneur. As a promoter of turnkey properties in
the US with over 300 investors on five continents,
I am privy to issues surrounding ownership outside
one’s homeland. This has lead me to the realization
that, sometimes, a change is needed.
SOME OF THE KEYS TO AN ENTREPRENEUR’S
SUCCESS ARE BOILED DOWN TO THIS:
1 Plan your work and work your plan
2 Identify market conditions to enter and exit specific markets
3 Don’t get caught up in hype
4 Don’t follow the crowd, follow your instincts
5 Have clear goals to stay on to track for your end game
6 It’s okay to change strategies based on new information
7 Keep an eye on new technologies and how it will impact
markets
8 Politics and religion are big influencers for how you navigate
the marketplace
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JULY 2017 SA Real Estate Investor
The cost of doing business
The cost of proper accounting is often not worth
the cost of doing business, unless you have enough
investments to offset this expense. The faith placed
in others to manage your affairs could slowly erode
if issues occur and they are not dealt with swiftly
and ethically. I’ve witnessed unrealistic investor
expectations, as some expect issues to never arise.
Let’s face it: all of us in business have to overcome
challenges. That’s what life is - a series of challenges
that have to be met. And none of us are immune to
that.
It’s hard for me to wrap my head around what I am
about to say to you. You see, my goal for more than
35 years was to have enough single-family houses to
produce predictable income for me and my family,
thus enabling me to work out of choice, not need.
I’ve had goals every year for 35 years to arrive at this
destination. Yes, it was 35 years, and should have
probably been much shorter, but I was derailed more
than once by external influences of a political nature
and market conditions.
There are two really important points to make here.
One, I’ve stayed the course, overcame obstacles, and
I arrived. Was it easy? Is any prize in this world easy
with the competition that’s out there? Just like in
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