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Nairaland Forum / Nairaland / General / Investment / How To Become Rich In Uncertain Times - According To Warren Buffet (183 Views)
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How To Become Rich In Uncertain Times - According To Warren Buffet by AnthonyCee: 1:02pm On Mar 01, 2023 |
HOW TO BECOME RICH IN UNCERTAIN TIMES - according to Warren Buffet Let's discuss this with a real-time event - the 2023 election in Nigeria In these weeks of elections, as the results are being declared, it is natural for a lot of people to pause their projects, these people are very busy monitoring results because they feel that the future is uncertain. I will love to quickly share this experience with you: In the first quarter of 2020 during the global lockdown, caused by COVID-19, a distressed seller called me and declared that he has 12 plots of land on Orchid Road, adjacent to the event Centre, about 2 minutes from the popular Orchid Hotels, it was a very marshy land and the owner was willing to sell at 35 million per plot. Of course, at that time, I couldn't afford it, so I picked up the phone and called my friends and Clients whom I believe were disposed to acquire this property but they were all focused on the temporal event of the C-19 that they never saw the immediate value on this property. Eventually, about a month later, the deal was closed, someone else, a total stranger acquired these 12 plots and built a mini estate on them. Today a plot of land in this immediate location sells at an average of 140 million per plot. This means an ROI of 105 million per plot multiplied by 12 plots, which equals 1.26 billion profit on a 420 million investment, in just 2 years. Now that's 300% on the Capital appreciation alone in just 2 years. I will not discuss the Cashflow this property produces annually because if I do, I guarantee that it will blow your mind. I know you now understand what Warren Buffet meant when he said "I will tell you how to become rich: close the doors, be fearful when others are greedy. Be greedy when others are fearful" This is because when people are fearful, demand decreases and the price of commodities comes down. At this point, don't sell your asset, hold it tight and acquire more. Close the doors and don't entertain discussions from people who can't see what you see. When the market finally begins to boom, people become greedy, and a lot of them, who lack expert advisors will begin to take uncalculated risks and unguided investment decisions. This is a time for you to be extremely careful. It becomes time for you to begin to sell only those investments that are no longer making you much profit while you diligently and carefully search for better ones, keeping your emotions in check. [b]Remember: [/b]completely keep your emotions in check while making investment decisions. My name is Anthony Chibuzo from Real Estate and Investment GPS Ltd, a firm that offers the best Real Estate advisory service, and steadily creates Real Estate Billionaires out of ordinary men. Please follow us on: https://www.facebook.com/reigpsltd @REIGPSltd
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