I had that Mercedes dream again Christmas Eve night.
The one where I’m driving my brand new Mercedes down the interstate and I’m admiring how my new ultra sleek automobile handles the road and all. It was a silver one this time, I believe.
Then, as in all my previous dreams, I realize it’s only a rental. That “e” for Enterprise on the back embarrasses me and I always wake up at that point.
Santa didn’t bring me one. Am I disappointed?
Not in the least.
Sure, I’d like to have one. Who wouldn’t, but getting it isn’t my goal for 2008.
A Mercedes, or any car like it, would be what I like to refer to as a “goal runoff”.
Besides, when I finally get one, I’ll still have to keep the Chevy for driving around the tenants anyway. Can’t let them suspect we’re actually making money, don’t you know?
My real business goal is to continue investing in the Mercedes of real estate. I think that’s more important than ever. Why? Because there will be more opportunities than ever this new year.
Which brings me to one of the subjects we talked about after that giant Christmas dinner complete with roast beef, four cakes, my special homemade, mouth-watering unstuffed pepper soup, etc. (Which took my Mom and me two days to cook).
We talked about a new shopping center. They’re going back to the old fashioned concept of the strip centers, only fancier. Okay, if that’s what the customer wants, right?
And we thanked our Dad for having the foresight 50 years ago to buy some property, our dumpiest, which is now right across the street from that shopping center. It's our Mercedes.
Sure, we’ve had our problems. The kitchen ceiling of that little house had fallen in while they were blasting for the new shopping center and we ended up having to pay for it ourselves; the typical property management stuff you sometimes have to deal with.
But we often eat at the Arby’s next door to the property to look things over and to get information from the restaurant’s staff. (We recommend their new Reuben).
From a side booth we can get a bird’s eye view of the property’s back yard. And yeah, there are a lot of cars parked out back. Our tenant repairs them. He’s got just about everything- except Mercedes.
But we know one thing for sure. Properties like that are our real pride. I look at every square inch of it with a feeling of accomplishment. Not my accomplishments, but my Dad’s.
So here’s my point as we move into a new year.
You can find gold mines like that too. Growth is something that is sure to happen and you can bank on that. It doesn’t take a rocket scientist to figure out in which direction growth is occurring.
Get in front of it like my Dad did. Buy and hold those properties. They may not be pretty to others, but you and your children will grow to love them as they appreciate through the years.
Is there a brand new shiny Mercedes in your future?
Perhaps the car will be, but I hope what 2008 really brings you will be most run-down, unsightly, ugliest properties that will pave your road to prosperity.
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