Thank you for this post. As usual your thoughts are well formulated, poignant and straight shooting. I could not agree with you more on the points you listed.
As I read your post for the fifth time, what really comes across to me is not the 7 points you listed. Most investors have probably heard these mantras to being successful.
No, what strikes me is that underlying these 7 points and which key to your success are 2 more fundamental ideas:
A) You know who you are and what you are about
B) Next, you know what your REAL goals are. The goals YOU want and are willing to do whatever it takes within your capabilities and principles to get there.
I have been having many 1-1 discussions with other investors (and business folks) lately and its amazing that they cannot answer these two points. These two are the foundation for your thoughts, attitude, conviction and Actions.
Rick, you know your core values and principles by which you do business. Your business decisions and actions reflect this. (Eg. waiting so patiently for your 2nd park requires discipline and ability to stick to your plan).
I have talked to so many investors who tell me they want to invest in mobile home parks after I tell them how we are doing. My first question is “why do you want to invest in parks?”.
I ask them how this fits their personalities, strengths/weaknesses and and how it fits into their overall goal. Most have no answer other than it can make good money. That to me is not a reason!
Personal choice - I have met many people who do not know how or why they make the choices they do. They invest in one just because they heard a guru speak. Well, its pretty difficult to take responsibility for their actions when they don’t feel committed to their choices.
Rick, perhaps we shall see you in Tahiti walking on hot coals and providing insightful life lessons soon!!!