What is success? (by Tim [CO]) Nov 30, 2020 11:08 PM
What is success? (by Jim in O C [CA]) Nov 30, 2020 11:30 PM
What is success? (by Alan [CA]) Nov 30, 2020 11:56 PM
What is success? (by BRAD 20,000 [IN]) Dec 1, 2020 12:04 AM
What is success? (by BRAD 20,000 [IN]) Dec 1, 2020 12:05 AM
What is success? (by Robert J [CA]) Dec 1, 2020 2:59 AM
What is success? (by Deanna [TX]) Dec 1, 2020 9:15 AM
What is success? (by RB [MI]) Dec 1, 2020 9:19 AM
What is success? (by S i d [MO]) Dec 1, 2020 9:40 AM
What is success? (by 6x6 [TN]) Dec 1, 2020 10:17 AM
What is success? (by Deanna [TX]) Dec 1, 2020 10:52 AM
What is success? (by 6x6 [TN]) Dec 1, 2020 11:29 AM
What is success? (by Roy [AL]) Dec 1, 2020 11:41 AM
What is success? (by plenty [MO]) Dec 1, 2020 12:06 PM
What is success? (by Tim [CO]) Dec 1, 2020 12:34 PM
What is success? (by Ray-N-Pa [PA]) Dec 1, 2020 5:50 PM
What is success? (by BRAD 20,000 [IN]) Dec 2, 2020 1:23 AM
What is success? (by Jane [TX]) Dec 12, 2020 10:30 PM
What is success? (by Jane [TX]) Dec 12, 2020 10:30 PM
What is success? (by Bill [KY]) Dec 13, 2020 8:26 AM
What is success? (by Sandy [CO]) Dec 15, 2020 12:24 AM
What is success? (by Tim [CO]) Posted on: Nov 30, 2020 11:08 PM Message:
I first came to Mr LL in 1998-99 when I was interested and planning to buy a multi plex rental which I did in 2004. I grew up the youngest of six with a dad who invested his entire life saving in several apartment buildings the early ‘70’s. Due poor planning and little experience combined with our local economy tanking he lost everything, selling for pennies on the dollar.
Last month we laid him to rest as an honored Marine veteran, succumbing to the virus. The lessons he taught me from his experiences started at 10 years old when my mother died from cancer. You see in life and and in business there’s nothing guaranteed and everything we do has risks he said.
He taught me the benefit of success can be as severe as the risks of failure, because it makes you complacent, confident, comfortable and worst yet unprepared. 2020 the tide went out and to quote a LL, we saw who was skinny dipping.
I grew rentals slowly and planned for failure all my life, I was determined not to be a failure even if my successes were minor. I managed all my risks, tenants, diversifying assets, created a large rainy day fund to absorb any downturn, small or large. In parallel I’ve worked a W2 career 30 yrs, went to trade school, got a masters degree and raised 3 upstanding citizens.
My last talk with dad he said he was proud of me, my accomplishments and hard work. I realized then what I considered a small measure of success, was not so small after all, I became the man he wanted me to be!
How do you measure your success?
--71.211.xxx.xxx |
What is success? (by Jim in O C [CA]) Posted on: Nov 30, 2020 11:30 PM Message:
Basically if you’re happy with what you were doing the income from that endeavor is inconsequential. I started a manufacturing business in 1978 in my garage. I bought a building and grew the business to 20 employees.
Around 2004 due to government regulations it just wasn’t any fun anymore. I sold the business and the building and semi retired except for my rental properties that I’ve had since 1971.
--99.23.xxx.x |
What is success? (by Alan [CA]) Posted on: Nov 30, 2020 11:56 PM Message:
Filling a vacancy quickly with a quality tenant. --71.198.xxx.xxx |
What is success? (by BRAD 20,000 [IN]) Posted on: Dec 1, 2020 12:04 AM Message:
Tim,
Thanks for your post. Sad to hear.
Dad's are the best.
Success? Having your Dad say he's proud ranks eight up there. You are a lucky man to have a Dad like that.
BAAD --73.102.xxx.xxx |
What is success? (by BRAD 20,000 [IN]) Posted on: Dec 1, 2020 12:05 AM Message:
RIGHT up there, not eight.
BRAD --73.102.xxx.xxx |
What is success? (by Robert J [CA]) Posted on: Dec 1, 2020 2:59 AM Message:
I learned the first step towards achieving success is to memorialize one's goals in writing.
After buying my first few homes I though long and hard what I wanted and what I thought success would mean to me personally.
So I wrote down I wanted a large apartment complex with enough positive cash flow to cover all of my expenses so I wouldn't have to depend on a "job".
Then I wanted a nice dependable car.
Third I wanted 1 million dollars in the bank.
--47.155.xx.xxx |
What is success? (by Deanna [TX]) Posted on: Dec 1, 2020 9:15 AM Message:
I won't know if I've been successful until after I'm dead. :P
Does anyone else remember the story of Croesus and Solon? Yeah, that was happiness, but I think it's also applicable to success as well.
To me, success means that you make a positive difference to the people around you, and they depend on you, and the world's a poorer place if you're not there doing what you're supposed to be doing.
But you never actually achieve it. You always have more that you can accomplish, and you're always striving for that "more." And you keep striving and striving until you run out of time, rather than running out of goals and achievements.
I remember discussing a thing on the radio with my husband in the early days of our marriage, back when we were both working, studying for our respective advanced degrees, and paying off my undergrad debt.
It was saying that young people were earning greater salaries at younger ages, and becoming the top of their profession, or millionaires, or whatever, early on in their careers. The goals that used to take people their entire working lives to achieve were now being achieved by 20-somethings and 30-somethings.
And they were discovering that all the "stuff" people used to spend their entire lives pursuing--- being millionaires, having the fancy cars, having the fancy vacations, having the yacht or the vacation house or whatever-- didn't bring them the happiness and fulfillment that they thought it would.
But they were finding it out at, like, age 25 or age 34, rather than waiting until they were 55 or 65 or 70. --137.118.xx.xxx |
What is success? (by RB [MI]) Posted on: Dec 1, 2020 9:19 AM Message:
Balance = a condition in which different elements
are equal or in the correct proportions.
"Life can be a rough ride without proper balance." --199.192.xxx.xxx |
What is success? (by S i d [MO]) Posted on: Dec 1, 2020 9:40 AM Message:
Sounds like you had a great Dad and made him proud. Congrats!
Success to me is knowing if other people's lives were truly made better as a result of my existence and efforts. It starts with my wife and kids, then my extended family, then the community, then the world. --107.216.xxx.xxx |
What is success? (by 6x6 [TN]) Posted on: Dec 1, 2020 10:17 AM Message:
Thank you for sharing that Tim. I also think that you had a good dad. Congratulations on your success.
"To me, success means that you make a positive difference to the people around you, and they depend on you,...."
"Success to me is knowing if other people's lives were truly made better as a result of my existence and efforts...."
I would say to you Deanna and Sid that you are then successful as you have made a positive difference in my life by sharing your wisdom and experiences with me. Thank you
What is being Content? Wanting what you have and not what you don't. Is'nt that a form of success as well? --73.120.xx.xxx |
What is success? (by Deanna [TX]) Posted on: Dec 1, 2020 10:52 AM Message:
I think there's two different kinds of contentment. One is having achieved specific goals, and not wishing to put in the energy to achieve further goals beyond them. Like, "OK, I made my goal of 100 houses. I'm content with that. I don't need 150, or 200, or some other arbitrary number."
(I can quit anytime I want...) :P
I think the other kind of contentment is being satisfied with that which you have, to the point that you're not made dissatisfied because you don't have x, even if so-and-so has x. You won't say no to x, but you're not going to go out of your way to forcibly achieve it, or take it from someone else, or hinge your entire life on the pursuit of the next big "thing", whatever form that thing takes. Likewise, you don't hinge your self-worth on the possession of x, if x is something that can be arbitrarily taken from you--- by a stronger person, by a govt, by fire or flood, or whatever.
It reminds me of a poem I memorized once-- the end goes like---
I laugh not at another’s loss,
I grudge not at another’s gain;
No worldly waves my mind can toss;
My state at one doth still remain:
I fear no foe, I fawn no friend;
I loathe not life, nor dread my end.
Some weigh their pleasure by their lust,
Their wisdom by their rage of will;
Their treasure is their only trust,
A cloakèd craft their store of skill;
But all the pleasure that I find
Is to maintain a quiet mind.
My wealth is health and perfect ease,
My conscience clear my chief defence;
I neither seek by bribes to please,
Nor by deceit to breed offence:
Thus do I live; thus will I die;
Would all did so as well as I!
It was written by a guy who was immersed deep in Elizabethan court politics, so he had seen the ambitious up close... and also what happens when you fall out of favor with the powerful, or what happens to the powerful when they lose their wealth/prestige/influence. --137.118.xx.xxx |
What is success? (by 6x6 [TN]) Posted on: Dec 1, 2020 11:29 AM Message:
Thank you Deanna. I like that. --73.120.xx.xxx |
What is success? (by Roy [AL]) Posted on: Dec 1, 2020 11:41 AM Message:
Success is what you get when your fear of failure is greater. --68.63.xxx.xxx |
What is success? (by plenty [MO]) Posted on: Dec 1, 2020 12:06 PM Message:
Gosh Tim, pass the tissues. --172.58.xx.x |
What is success? (by Tim [CO]) Posted on: Dec 1, 2020 12:34 PM Message:
Excellent perspectives and wisdom.
One of my reasons for this post was seeing there’s so much negativity and fear of what the future holds as landlords. I sincerely hope, that thru these challenges you find enrichment in many ways. Enjoy the journey!
My dad often said “you can move mountains with your mind” Reinforcing that anything is possible, if I was open and creative enough! --71.211.xxx.xxx |
What is success? (by Ray-N-Pa [PA]) Posted on: Dec 1, 2020 5:50 PM Message:
Success is in the journey - and not a destination.
I would have to say you are and your dad are both successful. Just look at you!
Devil Dog - your mission is complete. RIP --24.101.xxx.xx |
What is success? (by BRAD 20,000 [IN]) Posted on: Dec 2, 2020 1:23 AM Message:
Success is the FREEDOM!!! to live your life the way you want without having to ask permission.
BRAD --73.102.xxx.xxx |
What is success? (by Jane [TX]) Posted on: Dec 12, 2020 10:30 PM Message:
To me success is having freedom of time and choice. Spend my time doing what I like, whenever I want; not having to depend on some else financially; don't have to answer to a boss; make my own plans and meet my own goals. Have a good amount of savings and assets to provide quality life style to loved ones. Be able to give and help others when needed. --70.119.xxx.xxx |
What is success? (by Jane [TX]) Posted on: Dec 12, 2020 10:30 PM Message:
To me success is having freedom of time and choice. Spend my time doing what I like, whenever I want; not having to depend on some else financially; don't have to answer to a boss; make my own plans and meet my own goals. Have a good amount of savings and assets to provide quality life style to loved ones. Be able to give and help others when needed. --70.119.xxx.xxx |
What is success? (by Bill [KY]) Posted on: Dec 13, 2020 8:26 AM Message:
Success is having your old man tell you he’s proud of who you turned out to be. Great job son. --50.96.xxx.xx |
What is success? (by Sandy [CO]) Posted on: Dec 15, 2020 12:24 AM Message:
I’m so sorry for your loss, that is so sad...
it is a blessing that you have such a sweet memory to move forward with in your life. Losing a father is so hard. It is truly a great loss, my sincere condolences.
I was thinking back to when the “bottom” fell out of the oil business in the eighties. That was certainly a rough time, I remember an article in the Denver Post talking about how Denver was a ghost town and they should roll up the sidewalks and put the “closed” sign on the door when the last person left.
How different it is today. We must count our blessings, even with the challenges we face.
Thank you again Tim, and everyone on this site. I feel so blessed to know you all. --66.115.xxx.xxx |
Reply:
|
|