REAL ESTATE...AND OTHER THINGS OF VALUE: Merry Path of the American Dream

Real Estate...and Other Things of Value

with Yossi Feigenson

We’re all waiting for something. We’re looking and hoping for the signs. Has it been declared? As of late, the rumblings are beginning to get louder, more frequent, and are coming from better sources. Yes, indeed, it seems that the recession may be finally releasing us of its grips, of its shackles. We can now begin to feel more confident to get back to the way we used to live. We can actually go and spend money, free of guilt, (provided that there is some available) and continue on the merry path of the American dream. We are ready to put this nightmare behind us.

If you are paying close attention; and I really hope you are, you will notice I used a keyword (keyword being a very keyword these days). That magic word is “feel”. We want to feel that things are getting better. We don’t necessarily have any logical understanding or hard scientific and numerical data that supports this feeling.

Emotion driven world

We may not like to admit it, but many, or all of our decisions we make, and the way we view the world, are with our EMOTIONS. Of course, reasoning, intellect and common sense all play a role, and we wouldn’t function without these intellectual faculties, but, too often, the primary vehicle that leads us is emotion. Is it a wonder that for most of us when we buy or sell a stock we uncannily buy at the exact wrong time and subsequently sell at the precise time we should hold? If this doesn’t sound familiar, than there is a good chance you are like my good man, Warren Buffet, who is a fairly good investor; he buys low and sells high. There is, however, the last time I checked, only one Warren Buffet, and perhaps a smattering of students of the Warren Buffet system.

What does Warren Buffet know or posses that most of us don’t? Is he simply much smarter than everyone? Or has he mastered a particular skill and idea that is the most difficult and fleeting things to attain.

To gain some insight into why organically we are this way takes lots of hours of study of certain texts and the human psyche. Principally, the idea being that we are emotion driven race, and an emotion led universe. Sure, we posses intellect. We think, we speak, we make decisions, we have opinions, we like, dislike and choose one over another. But, the driving force behind much of what we do individually, and as a society are our emotional attributes.

Let’s look at our most recent 10 year boom and subsequent bust. In particular, in Real Estate: When the general trend is looking up, people will jump at any opportunity, often completely disregarding the inherent risks. While, when the trend is the other way, people will stay away even though the deal may be sound and ultimately extremely profitable. As the legendary John D. Rockefeller once said, "Buy when there is blood in the streets." This implies that you should buck the prevailing trends. It is uncanny how few posses the discipline to follow this rule. Those who do are the next generation of millionaires. It’s that simple.

Fear and insecurity

Fear has been the prevalent emotion of our current crisis. Even for those whose situation has not changed much, they are paralyzed by a certain sense of fear and trepidation. An entrepreneur is more afraid of going into a new endeavor, even though the more astute move would be to go into business in a downturn.

Manifestation

People who have the ability to rise above emotion, and strictly use intellect as their driving have always taken advantage of our emotions. We see this clearly in every downward cycle there are people who see past the current muck and are picking up assets at pennies on the dollar. Using intellect without too much emotion allows you to see beyond the current situation and see what can come out the other side.

The Good news

The good news is that just as we got into this mess we will get out of it with similar irrationalities. When people begin to have confidence again in their own situations they will begin to spend and the turnaround will really happen.

Wouldn’t it be nice to alter this cycle of us being led by our fears and emotions? We do have the smarts, we do have the understanding, but it will take quite a bit of exercise on our part to make decisions that are coming from our intellect.

How does one attain this type of power of the mind? The old phrase “mind over matter” means that in the face of any challenge the mind can overcome all obstacles, including the inclination of our own emotions and insecurities.

If business and sales are slow, and the overwhelming emotional fatigue has set in, we often feel sapped of our capacity to think and make sound business decisions. It is then imperative to identify it as such and take the steps to get the emotions out of it. The feeling of disillusionment will lead us to make decisions that will ultimately hurt our business.

Sounds impossible? It’s not. But, it takes effort and lots of grinding, gut checking and accountability. There is no easy, straightforward approach one can take. But there is so much information out there, and many professionals that can help with the process. But the first step comes from within us; as it always does.

For more information, please visit Yossi's TNNW Bio.

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REAL ESTATE...AND OTHER THINGS OF VALUE: Merry Path of the American Dream