You don’t have to be smart!

By Your real estate dude

Just the other day, I found myself talking with a fellow who had asked me for advice some time back and not taken it. He probably doesn’t remember asking me or the advice I gave him at the time.

It was a strange scene, becoming almost surreal as he began to speak, like one of those movie flashbacks. There I was, standing next to him listening as he lamented his current circumstances. His face looked long and tired. Suddenly, it was as if I was transported back in time. In my mind’s eye, I could see him standing in almost the same exact spot a year or so ago excitedly asking me for my advice regarding his plan to take out some very risking loans in order to realize his dream of becoming a landlord. I was about to give him my answer, to share the advice he so quickly discounted, when I was thrust back into the present once again just in time to hear him tell me what a terrible financial mess he was in. As he finished his tale, his last words were, “but, you know more about this real estate stuff than I.”

As I walked out to my car, I couldn’t help remembering a rule my grandfather had taught me when I was growing up. It has echoed in my memory ever since, “You don’t have to be smart, just hang around smart people.” Sure, Grandpa was a do-it-yourselfer when it came to some things, but there were certain things, according to my grandfather, that you just didn’t take on by yourself. You didn’t do your own taxes, you didn’t represent yourself in legal matters and when it came to investing, you didn’t do much of anything without first consulting professionals who had been successful at what you were trying to do. And above all, when they gave you advice you listened!

Over the years, I have surrounded myself with smart people who have experience and knowledge in areas I don’t, and who are more interested in my welfare than a paycheck. When I have a tough investment decision to make, I start asking the right people and listening carefully to what they say. I’m not perfect at this you understand. On a couple of occasions, I have gotten too big for my britches and thought I knew better. I ignored the advice I received and believe me, I paid for it just like the fellow I told you about a few paragraphs ago.

The important thing is what I get to pass along to you. I have learned that my Grandpa Charlie was pretty smart after all. He knew what he didn’t know and he was smart enough to heed the advice of others who did. In doing so, he increased his chances of being successful and you can too.