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Psychologically, The Whole Ball of Wax! Putting it all together, and getting to a finish line, is difficult.

hughjwade



Intelligence and Smarts are over-rated. 

 

Wisdom, prudence, and maturity are other things entirely, are related to brain computing power and thinking deeply, but also separate, and are underrated, no matter what, as they can’t be rated high enough even if someone has reached the Everest of the magical trio. All we can do is aspire, improve, and aspire some more to be wise, prudent, mature, which all takes a huge dose of humility. I aspire, and there is infinite room for improvement. I am getting wiser, sometimes and in some instances, which makes me happy.

 

Risk tolerance is also a beautiful thing. 

 

For me, it means seeing opportunity in the face of roadblocks and incomplete knowledge. Human brains seem designed to see risk and all the bad things that can happen, and then we choose not to pursue something. The upside is lost. Some lawyers and accountants and most humans specialize in mitigating risk but aren’t that good at evaluating the upside and finding a way to chase it, despite the risk and also with the understanding that there is no risk-free endeavor. (This is part of the reason why it’s good to hire a good commercial real estate broker as a relationship to make more money, instead of listening only to your lawyer or accountant, which are hugely important people and professions and relationships, but sometimes they tend to error on the side of advising caution.)

 

Commitment and Capital take all of the above as a foundation and are the bedrock of execution. 

 

A person has to have the money and/or access to money. A person has to have the will.  The endeavor then needs to be taken all the way to the end game, which in our sandbox is a recorded transfer deed for a sale transaction, or a signed lease and the exchange of keys and money for a lease transaction.

 

(After all of that, after the endgame, the real work starts, which is getting comfortable with all aspects of a property, its tenants, its immediate and long-term improvement projects, realizing its potential, etc.)

 

Unlike the money part, we never know if we have the will until we have already executed, i.e., after the fact. Or, if we pulled the plug, maybe it is because we weren’t committed enough and not because of some external factor, like cash flow, property condition, an “evil” person on the other side, or a “everything happens for a reason” mentality.

 

Why am I writing this? It all seems so esoteric, meaningless in a lot of ways, a waste of perfectly good brain cells. Well, it’s because usually I start trying to write these articles because I’m pissed about something. Posers, Pikers, uncommitted Pretenders, and being mad about what is lacking in myself and in my clients. And then, I start writing, and it becomes something a little more constructive, and a chance to get positives out of negativity. Thank goodness. I guess going through the Great Books Program (Program of Liberal Studies) at Notre Dame 37 years ago had some good lasting affects, even though I was likely one of the worst students to graduate from that program in its history. And that is a fact.

 

Today, this year, I hope you are smarter, wiser, more mature and humble.

 

I hope you see risk, and that you see upside, possibility and potential.

 

You have the baseline money or you don’t. The rest is inside of you. Sometimes it means proceeding even though all of your instincts and DNA are screaming “No” at any particular moment.

 

I wish you success, whatever that means to you, and progress with your most important priorities. 

 

-Hugh

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