What`s the BEST thing that happened to you as a result of the DOWN TURN in the Alberta market?

[johnsu]

For those of you who've heard the saying, "Crisis is a blessing and blessing is a crisis" you'll really resonate with the story I'm about to share.



The best thing that happened to me from the downturn is I changed from a SPECULATOR into an INVESTOR! This was a result of making some mistakes in flipping that almost TOOK ME OUT! As Don says, "I was swimming naked!" But I've survived the Down turn and I'm about to take my life and investing to a level I've never thought I'd be able to do. What don't kill you only make you stronger by Kanye West, HOLLA!



The lesson's I've learned made me more effective in analyzing, managing, sourcing and investing in Real Estate. The knowledge and skills I've attained, money can't buy because even if you're taught the perfect system to create a billion dollars, every man will use that system differently and not everyone will succeed and many will fail.



What's your crisis that was actually a blessing?

 

[Rickson9]

I have small circles of competence around real estate and stocks. I love buying during downturns. For every downturn that we've had since I graduated university I have become less fearful and more aggressive. For every bull run that we've had I have become more fearful and more passive.



Throughout high school and university I had read about the ability of buying during crashes of accelerating wealth creation, but it was difficult to fully envision what I read without direct experience.



I eagerly look forward to fear and dispair in the news.



Best regards.

 

[Scott Lyall]

All I can say is thank-you to Don and Rein for the valuable training I have received which turned me from speculator-flipper into investor. As such I entered the downturn with 4 solid doors, after many succesful flips. I did not get caught with negative cashflow or a property that was not contributing positively.



Also it is nice to see more and more posts talking about the downturn in past tense !

 

[RedlineBrett]

I learned how important strong management is to cost control and how much of an impact good ownership has on an investment portfolio. A rising tide carries all boats... but when the market is not appreciating the only way to get better performance is to reduce costs and that only happens via good ownership practices and hard work.

 

[housingrental]

The best thing that happened for me was that there were less people at the next year's Ontario quickstart event from Alberta looking for investment funds.

This was a positive development.

 

[bizaro86]

I enjoyed the fact that Alberta real estate stayed at bottom longer than some other asset classes. Thus, I was able to use my profits from buying stocks at the bottom to reinvest into Alberta real estate at still low prices.

 

[johnsu]

Was the Alberta group that bad for "less of them to come" as being one of the best things that happened for you?

 

[johnsu]

Hi Brett,



I had the same experience, I also became an expert "asset manager" as a result. I think "buying" is the easy part of doing Rentals, the true skill set is "managing" the asset and keeping it profitable to maturity.

 

[bizaro86]

[quote user=johnsu]I think "buying" is the easy part of doing Rentals, the true skill set is "managing" the asset and keeping it profitable to maturity



"Buying" is easy. "Buying well enough to have a margin of safety for contingencies" is not so easy, and is (in my opinion) harder than managing properties, and I self-manage quite agressively.



Regards,



Michael

 

[housingrental]

The question was "What's the BEST thing that happened to you as a result of the DOWN TURN in the Alberta market?"



The impact of a market change in Alberta on me?



[quote user=johnsu] Was the Alberta group that bad for "less of them to come" as being one of the best things that happened for you?