Real Estate and Business is not about Paper … it is about PEOPLE
www.arrivatollc.com – In my business, I am pitched projections almost daily. I see the same thing every day when I am meetings throughout New York. There are thousands of intellectual men and woman spouting out a lot of analytics. However, those analytics become quickly outdated. It is people that we must constantly spend our time understanding.
I do believe it is important to go beyond the spreadsheets. In real estate, I always look at what is happening in homebuilding, watch what is happening with home sales, and watch what the banks are doing. And speaking of banks, watch closely at what they are doing. When saw some of the crazy loan products the banks pushed in 2005, 2006, and into 2007. We saw what happened thereafter.
Let’s look at what banks are beginning to do again and think about where this will lead. Now plan your strategy accordingly.
I often reflect upon the projections being spread around the home mortgage industry back in the mid-2000s. We would have “x” number of mortgages being written in 2008, “x” in 2009, and “x” in 2010. I believe we all know what happened.
Projections are great, but look at people and our surroundings.
Let’s always remember that people do make mistakes and nobody bats 1.000 in baseball. In fact, very few baseball players even bat .300. Always consider this fact when thinking about businesses and projections.
This business will always be about people, not paper – especially as he face the next wave of challenges ahead.
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