Day/Blog Post 8
Good Luck or Bad Luck, is it Plain Old Luck!
My wife and I live by the mantra, “Things Happen for a Reason.”
We always look for the “Whys” and what lessons learnt.
The coronavirus lessons are not still obvious; some folks will recognize sooner than later, and opportunities unveiled.
Living by the philosophy, “Things Happen for a Reason,” you soon learn luck is luck, not good or bad.
Taking advantage of luck is not for the faint of heart.
Lessons Touch All Parts of Our World
Investment real estate is a big part of our financial portfolio.
Buying investment real estate in the United States before 2007/2008 subprime and after 2009 in Alberta, you might think this was bad luck. We bought some of our best-earning properties during this time.
There are many more examples over the centuries of the real estate markets changing and going from boom to bust back to boom.
Alberta’s Economy, once the darling of Canada has become the landlocked orphan of the country and its single parent, the current Federal government has no love for this child.
Alberta’s parent has stood in the way of its financial health’s wellbeing many times over the years and has not given an inch of support.
Wake Up Call is Coming
The current price war between Saudi Arabian and Russia and the coronavirus situation forcing world economies to a halt and the consumption of oil is down and oil inventories up.
With the oil prices way down, there is a good chance many small oil companies in the United States could be out of business before there is any economic relief.
After over four weeks of squabbling, OPEC Plus came to their senses and have agreed to a production reduction in May and June 2020. With a glut of oil on the market, it is going to take four to six weeks to reduce the oversupply. This abundance is why you do not see much movement in oil prices. Oil pricing bargains still abound.
At some point, the world is going to need higher energy prices to pay for the financial impact on the world because of the coronavirus pandemic.
The current social programs and the considerable coronavirus emergency financial aid packages to support workers and companies alike are rolling out in all countries of the world.
We will have to pay these funds back. Who will be responsible for making the payments, current and future taxpayers? The answer is a resounding, Yes!
There are two critical things politicians must do as they doled out these unprecedented levels of cash:
- Know these large financial programs are an investment and have to show a lasting return (what are we getting for this cash)?
- How are we going to pay these funds back? Paying these unprecedented levels of debt should not only be off the backs of the regular taxpayer, but we also need to look at our resources, natural or manufactured and maximize ideas alternatives to revenue.
To have each country defeat the coronavirus pandemic is not going to be through social distancing, washing your hands and Contract Tracing (short-term solutions).
We need a vaccine for all of us, and this is twelve to eighteen months away.
The coronavirus consequences have been death, death of our elderly and deaths continue to be brutal and still climbing. Death is death; it is final.
The efforts to find a medical solution to the coronavirus is paramount. This solution is the first thing first.
The financial toll put upon all of us is a killer of jobs, companies, savings, revenue for governments, in the end, all things financial will come back, none of this is final.
We must find a financial positive to this pandemic and crush the debt this disease has caused.
The financial reward should be higher-paying jobs, job creation that supports each country’s infrastructure making each country a better place to live.
The cost of our health should not become reliant on other countries; we need to be prepared to pay more for health supplies like ventilators, medical gloves and masks, drugs, our essential medical needs to be a grow at-home solution.
The financial solutions rush is not critical; we have several weeks to set the right direction and get the most significant return on our investments.
From Our Happy Place to Yours, Be Healthy, Be Safe Until Our Next Post
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About the author, W. Rick
Dynamic entrepreneur and sales management strategist; with over 20 years of experience in his field. Rick has achieved multimillion-dollar sales growth while providing award-winning sales leadership and coaching in highly competitive markets.
An active real estate investor since 2002, Rick has developed his purchasing strategies and processes specializing in vacation and recreational properties, single-family homes and condo rentals.
In 2005, Rick re-financed his first rental property to fund the purchase of more positive cash flowing rental properties.
Rick sits on the Board of Directors for several condominium associations and is an active President and Treasurer. Sitting on these boards has given him a wealth of experience and insight into working with property management companies.
Rick has partnered with several joint venture associates and is committed to creating a positive investing experience for his associates by finding the properties, developing the investment, securing the financing and executing a proven positive cash flow system.
Why should you choose Rick as your Online Vault to Investment Real Estate Success Advisor?
An outstanding mentor and coach, Rick will work with you to build your investment real estate business starting from the foundation. From guiding you through the market research and critical drivers, building your team of trades, realtors, and lenders to attracting the investment real estate properties right for your portfolio and the joint venture partners to help you grow.
Through direction and training, Rick will help you develop your investment real estate goals and be a catalyst for you to purchase your first investment real estate property so you can build a strong financial foundation unlocking sustainable wealth and a living legacy for you and many generations to come.
Thank you for taking the only asset that gives us so much through life, but we can never get back our time.
Please join Rick on living his mantra:
” Prosperity for all aspects of your life forever.” W. Rick Harris
