Real Estate Advice: Consider the Source
Everybody has one either in their family or in their circle of acquaintances: The all-knowing dispenser of unworthy or non-solicited advice. It’s true.
‘Uncle Phil’ is that person in our family. It seems U.P. (as we call him) carries advice on every subject with him wherever he goes.
Just the other day, the family was having a nice, Sunday picnic and the topic of real estate investing came up. And so did Uncle Phil’s ‘knowledge’ bank.
“The best real estate investing advice I ever got, he said, was to drive up to the front of the property, look at the other homes’ yards around it and search for the level of upkeep.”
All in all, I think Uncle Phil is probably right with that one.
My father has been a real estate investor for the better part of his professional career.
Every day we’d hear stories about the next big deal he was working on, or how he just missed out on the deal of a lifetime.
Growing up, all the real estate talk was as common as pundits in Washington. So it just seemed natural to follow in his footsteps.
After graduating college, my father gave me the best real estate investing advice I ever received: Son, when you’re putting a deal together, keep in mind your integrity. If there’s ever a doubt you’d be ashamed later at what you do, don’t do it.
That’s advice for life, not just real estate.
