Why Being Disciplined In Real Estate Matters | AlexSungNYC.com

Image of "Why Discipline Matters in NYC Real Estate" - AlexSungNYC.com

Why does discipline matter? Much more, why does it matter as it pertains to buying or selling Real Estate in New York City? The answer is crystal clear, yet when the markets continually go up, people start to become lackadaisical. Which brings me back to my point: discipline matters because when other people are buying, you should be selling. While others are selling, you should be buying. It sounds like a typical Warren Buffet cliche, but there is more than what it appears under the seams. 

We can both agree here, that New York City real estate has been climbing continually for the larger part of the decade. Until this year, when the proverbial shit hit the fan, that is when NY Real Estate markets and businesses that powered them, started feeling the pressures of Covid-19. 

It's only natural that as greed surmounts, pressure begins to build and starts to reach its boiling point. The markets, like water in a tea kettle, begins to gurgle as it then surreptitiously regurgitates outside of its container. The colloquial sounds of the tea kettle pissing, hissing, and ultimately creating bursts of gaseous eruptions. This is a reminder of 2018: some people won by buying up cheap property, while others lost when greed got to them — they held too long thinking that markets will only rise, while over-leveraged. This was a recipe for disaster. Yet continually, over and over, people repeat the same processes. As Rome was built, it penultimately crumbled upon the pressures of inward and outward conflicts. 

Why does discipline matter? Discipline comes in many different forms. In my opinion, discipline is knowing what you want and sticking to your strategy over the long-term. Not only that, but it's also sticking to proven strategies that work. It's listening to that inner conscience that tells you whether you are over-leveraged for your risk profile or not. It's also knowing how to pull the trigger on deals before the competition can get to them, while practicing sound business practice. This comes with experience. 

Through history we learn that empires were built upon and brought down by the sword. As offense is important, so too is defense. Like Warren Buffet says, building a moat requires extensive due diligence and discipline. As we learn throughout history, large empires had its peaks and troughs; so too are the markets. We must not underestimate it's innate complexities. We must stay disciplined, or else succumb to the pressures of history. 
Why Being Disciplined In Real Estate Matters | AlexSungNYC.com Why Being Disciplined In Real Estate Matters | AlexSungNYC.com Reviewed by Alex Sung on December 21, 2020 Rating: 5

No comments:

Powered by Blogger.