When you're getting a new venture off the ground, especially when you're , the moment you get an offer accepted is exhilarating. But then comes the big question: how do you actually close the deal? Over the years, I've found there are really three paths you can take, but one of them is my go-to for its simplicity and effectiveness.
So you got an accepted offer on a piece of land. The excitement is real, and you’re probably ready to declare yourself a real estate investor. But before you do, there’s some important work ahead. This is the due diligence phase, where you ask two critical questions: Is this really the right price? And is this truly a good deal?
You’ve seen the ads. A guy in a breezy floral shirt sips a margarita by a sprawling mansion pool and tells you, “This could be your life.” The scene cuts to him leaning against a red Ferrari, a stunning woman on his arm. Then, he’s in a high-rise office with ocean views, clicks a single button on his laptop, and yawns, “Done for the day! Man, I’m tired.”
Do you get a genuine thrill from finding a great deal? I’m not just talking about a casual appreciation for a sale. I mean, are you the person who will visit a store multiple times, eyeing that one item you want, just waiting for the price to drop before you even think about buying it?
When you hear names like Jeff Bezos or Warren Buffett, you probably think of online retail or the stock market. But they are also some of the biggest landowners in the country. It makes you wonder: why are some of the smartest business minds in the world buying up millions of acres of land? What’s so great about it?
There’s a point where making more money doesn't make you any happier. Hedge fund manager Ray Dalio talks about this—the law of diminishing returns. Once you have enough, chasing more can have negative consequences. It’s a lesson I had to learn the hard way.