A Lesson To Remember
Two decades ago there was a team of experienced real estate investors that went to a developing country and offered a course. It was priced $300 which was about one month salary at that time and place. The demand was low, but 5 people decided to break away with the crowds because they wanted to learn.
And they did learn: how to access finance as deal makers, how to verify the numbers, how to forcast demand, when holding is better than selling, and so on. The surprise came at the end of 5 days of training.
All participants were thanked for being good students and asked their opinions. They all had good things to say, but there were doubts about their return on investment. Then the instructors revealed their bonus: all money back with thanks for not giving up. Then they did business during a time when prices of real estate increased for up to 10 times before GFC.
When I met one of the beneficiary of that real estate course I wasn't sure what was greater: the joy of having had results after the course, or their joy and enthusiasm about the experience they had to learn valuable information and have their money back also.
We don't recognize easily the value teachers and mentors have in our lives untill... a little fortune happens because of a nice word or skill we have been taught by them.
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wow, this is an amazing story. I think that here we can learn - you need to make your decisions right time and stick with it.
WA is one of those decisions in my life - I am very grateful to stay here and that I keep coming back!
Yes, I was actually visiting one of the "investments" made by one student of that course when I heard the whole history. It felt good for me because it gave hope that entrepreneurs are rewarded. It did not feel good later on when I saw they were actually very right, and the price grew as they were saying, and I did not buy; they knew access to capital was going to be made easy and would drive prices up. But later on I moved to Australia and the prices here are... big in absolute numbers.
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Thanks for sharing this great perspective and lesson learned