A reader's recent note sparked off an important thought about how to pick the best real estate. Here is what he wrote.
Good Evening Gary,
I am thoroughly enjoying your valuable, unique insight through the International Business Made EZ course – see https://garyascott.com/publications/22/ – and I was hoping you would have anopportunity to expand upon the words I've read on page 240 of the course(under the heading “Three Ways To Use Business Compassion”) as follows:
“Look instead for fundamental laws which create (and solve) problems andneeds. Then create a business which lives by and uses these laws.”
Any further clarification from you as to how I could implement this strategywould be very much appreciated.
Thank you for your kind assistance.
In answer to this interesting question, let's look at the fundamental law of compassion. Compassion is the word we use to identify a most powerful universal force, care. Care is one of the desires everyone has from cradle to grave. We all want others to understand us, to be concerned with us and to care.
I feel that selecting real estate (or any business opportunity that serves) which will grow in value requires that we use compassion to put ourselves in other people's shoes by asking where they will want to be in the years ahead. The best profits are rarely made following the herd or offering services that others are already offering now! With compassion, our care for serving others allows us to take risks and do things that others are not doing now.
For example, our recent articles on investing in small towns across the USA shows us that baby boomers are beginning to retire and will continue to do so over the next fifteen years. The trend these boomers are setting is to move out of cities into small towns nearby because they want to get away from the crowds, but stay near their families. This is a big future trend, but the real action right now is still in the city. If you are thinking ahead you can buy low where others later will pay a high price to own.
For example, it took Merri and me compassion to invest in Ecuador when it was at an all time low. Yet we believed in the people of Ecuador and hence in Ecuador real estate as well. In this case our compassion for the people of this land matched our business thinking. By investing in land there when prices were ridiculously low, we have again reaped a small fortune. This is why we are looking at Argentina now as well. see https://garyascott.com/market/585/
So to use business compassion take three steps. First be willing to serve. Second put yourself in other person's shoes and then third, see where those shoes will be in three, five or even ten years. This is where you can do society and yourself the biggest good!
Until next message I hope wherever you are is a great place to be.