The recently concluded fight between our very own Manny Pacquiao and Ghana’s Joshua Clottey was a perfect example of how not to win a fight by focusing too much on trying not to lose. What does this got to do with real estate investing? A lot! Read more below and find out.
Before anything else, I would like to make it clear that I am not a boxing expert, I just want to highlight some lessons learned from the fight which are applicable to real estate investing.
Wasted opportunity
Clottey’s tactic of trying to survive and focusing too much on defending himself simply cannot win fights. Of course every boxer needs to have a defensive strategy but a good offensive strategy should not be left out. Freddie roach said it best when he said “If I was his trainer, I would have told him to engage a lot more because that’s the only way to win fights”. In my opinion, Clottey wasted his once in a lifetime opportunity.
Play to win!
In real estate investing, the same principles apply. To succeed in real estate investing, one needs to play to win and we do this by being on the offensive and “engage a lot more”. Just like how Manny threw so many punches (about 30 punches per minute… wow!) in his fight versus Clottey, we as real estate investors need to get out there and analyze hundreds of properties so that we can actually find more potentially good deals. The more potentially good deals we find, the greater the chance we will get to submit offers or participate in auctions for those good deals. The more offers we submit or the more bids we make, the greater the chance that we will actually end up closing that particular deal and win a worthy investment.
Of course it goes without saying that we still need to have a defensive strategy that will help ensure we don’t lose money on any of our real estate deals. We still need to do your due diligence and do the numbers. But unless we actually go out there and take action to pursue those deals, waiting for things to become perfect and the “planets to align” so to speak, opportunities in the form of good real estate deals will just pass us by.
I believe the easiest way to lose is by not trying to win!
Happy investing!
To our financial freedom!
Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: https://www.foreclosurephilippines.com
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Text by Jay Castillo. Copyright © 2010 All rights reserved.
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Thank’s for sharing your opinion sir. Keep it up!
Very nice analogy Jay….many people make the mistake of just joining or starting something without any real goal of winning. It good to start and do something but its also important to go for the win and not just trying to finish the course.
Very informative article indeed. I wish I had seen the fight. The video is broken though, haven’t you noticed?
.-= Jun´s last blog ..Your Home Owners Association And What You Should Know =-.
HI JAY IM ONE OF YOUR AVID FOLLOWERS IN REAL ESTATE AND IT HELPS ME A LOT THANKS SA MGA INFO .SAYANG DI AKO MAKAKA ATTEND SA WEALTH SEMINAR BUT STILL ANDYAN KA NAMAN TO WHISPER SOME POINTS THANKS AND MORE BLESSINGS TO COME ..
Hi Jay,
Ok talaga tong blog mo very informative at ang dami kong natutunan.Im an OFW here in Kuwait, sayang diko maabutan yung Wealth seminar dyan sa Pinas. Sa June pa kai ang uwi ko this year. tagal na nga pala akong fan ng blog mo,now
palang ako ng comment. Sana ma meet kita sa Pinas, planning to have my first forclosed property sana matulungan mo ko para sa aking ist investment..
Thank you and more power..
Hi Ronaldo, thank you sa lahat! Of course, meet tayo pag uwi mo. Try ko na lang i-echo sayo yung matututunan ko sa seminar. Siyempre I will be glad to help with your first investment, just let me know if you have any questions!
Sir good evening, i need your expertise. Im planning to buy a foreclosed property without a title from the bank.The only proof they have for the ownership of the property is the Tax Declaration.Is it safe to purchase that kind of property? Thank you very much.
Hi Von, thanks for the question, I’ll share my opinion about the scenario. Actually I’m puzzled as to why a bank foreclosed property has no title. usually when a property is mortgaged, it is annotated on the title and when the property is foreclosed, the Certificate of Sale or COS is also annotated on the title. Because of this, I am wondering why the bank only has a tax declaration as they are very strict in following procedures. Can you please ask the bank why they don’t have a title? If the title got lost due to a fire, etc, the title must be reconstituted and that can introduce complications aside from the additional cost. Personally I would avoid a bank foreclosed property that has no title, it just doesn’t make sense. i hope this helps.
Thank you very much sir for your opinion. God Bless and more power.
Will try to wait for the much awaited pacquiao-mayweather. I think this one will not be a boring fight.
.-= melardenio´s last blog ..Facbook,fezbuk,facebok and another Faceebook =-.
Me too, I look forward to Mayweather to be man enough and stop his delaying tactics. 😉
Very true. The same goes in a poker game. All the poker greats know that aggressive poker is winning poker. You just can’t watch your poker chips dwindle away by being passive. You need to bet, bet, and bet. In a boxing match, you need to punch, punch, and punch. In our realty industry, we need to keep giving offers or proposals.
Wonderful analogy, thanks for the comment and for visiting!
Right sometimes we feel coward to lose and that’s why we ended up wrong. Instead of fighting we ended up losing. Nice article sir Jay. I wasn’t able to relate the fight to my blog… Na boring ata kasi ako.
.-= melardenio´s last blog ..Facbook,fezbuk,facebok and another Faceebook =-.
Thanks Rommel! Yes, the fight really was boring… not much action. 🙁
Wow! superb article/lesson from my real estate mentor! Thanks for that kuya Jay! Inspiring. 🙂 I have a kind of different tactic though, I always “Ready, FIRE! Aim” hehehe! 😀 But it’s still like the “engage a lot more” though. 🙂
Janmck Hilado
http://www.janmckhilado.com/
Hi Jan, thanks! Glad you liked it. Haha, I still do the same tactic of yours occasionally. In fact, I did that with this property I am renovating right now. 🙂