Opportunity knocks, but you have to open the door - Posted by ray@lcorn
Posted by ray@lcorn on February 08, 2000 at 09:09:01:
I was so busy debating Garcia up above I plumb missed this post until this morning. Happy Anniversary to you and your wife! I wish for the two of you many, many more.
Your story of the VA deal reminds me that we make our own luck. What’s the old saw? “Luck is what happens when preparation meets opportunity.”
Most of us know there are opportunities all around us, at all times, in any market, and in any geographic area (except where you live!). But we sometimes lose sight of the fact that in order for a deal to qualify as a true opportunity there are some things that must exist on our side of the fence. We have to have the means (education, funds, contacts, motivation, etc.) to act.
As I read about your deal, I look at all the elements of preparation that went into your good “luck.” First, you made the effort somewhere along the way to befriend a realtor that has the inside line on VA repos, and probably other market knowledge as well. But that wouldn’t have meant much if you hadn’t also taken the initiative to actually bid on a particular repo. Even that would have been a fruitless exercise had you not previously have put in the time and effort required to establish a track record with an investor that can supply you with the funds needed to make cash offers. And all those actions together would not have made any difference had you not first been searching for the opportunity in the first place, learning your market and your business and developing the understanding necessary to know where to look for potentially profitable deals.
So your seeming good fortune is actually the result of a whole host of actions you undertook to make you capable to receive the “good luck”. I know you know this, and I appreciate your forebearance in letting me use your example to make a point. Thank you for sharing it with us.
I know you have heard me say this a hundred times, but I will repeat it again for those who may need to hear it, one of my favorite quotes and I can’t find the book I read it in to credit the author…
“Opportunity, without the capacity to capture it, is an illusion.”
In other words, if we haven’t performed the requisite preparation to capture an opportunity, if we haven’t first created the capability to act, then we are fooling ourselves that the opportunity existed for us in the first place.
That 14x80 is certainly no illusion this morning, is it?
Hope its a great day in New Mexico today!