"All that glitters, is not necessarily gold"
There's an adage in the world of sales; 'Sell the sizzle, not the steak'
This is because people tend to buy with emotion, and justify with logic.
We are seeing a LOT of 'deals' from developers, or properties marketed by agents, packaged as great investments, and for some people they may well be.
But for most people...They're awful. The emotional 'hooks' are effective, and then the 'logic' they justify it with is often 'generous' at best.
Be damn careful here. We've seen this through three downturns before...A major casualty of a downturn is often the truth. Desperate people do desperate things, and this includes pushing the integrity limits sometimes.
Know your numbers. Know the options. Set your criteria and stick to it. Get help to do it if you need to. But anyone who doesn't appreciate the power of emotion-focused sales-processes has never attended a property auction before. Once the emotion starts being triggered, logic flies out the window.
Focus on the steak, you have enough of your own sizzle.
And always remember; Cashflow is what makes you liquid, it's also what sends you broke.
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Today's Mystery Link: It's about perspective and was inspired by our tribe training on Monday night.
Cheers,
Phil