How to Succeed in Apartment Investing

Melvin Scoville

As I write this article, it is now January 2, 2009, and the beginning of the year is a great time to take some time and focus on your goals and what you want to achieve in the coming year.  BUT - no matter when you might be reading this article, I have some suggestions to help achieve your apartment and commercial real estate goals this year.

I wanted to start out by recanting a very famous speech by Sir Winston Churchill back in 1941.  There is actually a very widely held myth about this particular speech, but the message is extremely inspiring both from the mythical version, as well as the real speech. 

Just to give you a little background of where things are at in history at this point is 1941 is a very dark year in World War II.  On May 10, 1941, called "The Longest Night" for London, the Luftwaffe flew 507 bombing missions, targeting the capitol of England.  Over 11,000 homes were destroyed, over 1,450 people lost their lives, and over 2,100 fires burned across the city.  It was a night of living hell.

The myth is that Winston Churchill was giving a commencement speech to the 1941 graduation class at Cambridge University shortly after this event.  He stepped up to the podium, took off his hat, and started, "Never Give Up."  After a brief pause to let this message sink in, he again started, "Never...Give...Up."  After a longer pause this time, he again commanded, "NEVER GIVE UP!" with his words sending chills down the spines of the students in the graduating class.  He then donned his hat, and sat down.  A nine word speech that would never leave the memories of the graduating students.

In reality, the speech was at his old school, Harrow School in October of 1941 - just a few months after the bombings in May.  He gave an entire speech to the students, and in his closing remarks, gave the message of never giving up.  I quote, "This is the lesson: never give in, never give in, never, never, never, never--in nothing, great or small, large or petty--never give in except to convictions of honour and good sense. Never yield to force; never yield to the apparently overwhelming might of the enemy."

Never, never, never, never give in...

A simple message from a great man to his fellow countrymen in a dark period of history.  These words are as inspirational today, as they were in 1941.

We will all face uncertainties when striving toward our investment goals.  I don't think I've ever been involved in a property transaction that didn't have some hurdle to overcome, some glitch that needed fixed, or even seemingly insurmountable problems to overcome.  Accept these problems and focus on their solution, keeping in mind Sir Winston Churhill's words.

My best advice whether you're reading this at the beginning of 2009, or ANY time, is to lock yourself in a room with no one else but a pad of paper and a pen, and really take some time to reflect, visualize, and set some kick-butt goals for the new year.  Take as much time as you need.  You would be surprised to hear how much time I take doing this, and my friend, trust me when I say it pays off...

THEN, back those visualizations and goals with massive action...and never, never, never, never give in!