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Bill Thompson, REALTOR®

Taking A Risk

By: Bill Thompson, REALTOR®
Friday, July 13, 2007 2:23 PM

As I have aged, I look back and wonder if I palyed it safe too many times. I cringe when I think of some of the opportunities I missed in the past. There are properties I almost bought but did not because I was afraid of failure. I was playing it safe. The events I didn't attend, the people I did not meet, they make me shake my head in disgust. (Background music begins to play  "I Hope You Dance".)

Don't get me wrong, I have accomplished a lot so far in my life, but the "what ifs" drive me up the wall sometimes.

I can honestly say, I have no regrets about the risks I did take but many regrets over the risks I did not take.

So if you are a potential homebuyer and you're reading this now, go ahead, take a chance, risk it all and buy my latest listing!Cool

 

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Comments

Sharron and Steve Lobman
Member Since '06

Sharron and Steve Lobman said:

Bill,

Very clever! It looks like a nice house.

You sound like my husband when he was entering his nifty fifties! I think if you lived your life well up into your fifties, you start to see ways that you could have done even better in every aspect of your life. It is kind of the old "hindsight is 20/20" saying.

Anyway, it is still great advice!

July 13, 2007 2:02 PM
Bill Thompson, REALTOR®
Member Since '07

Bill Thompson, REALTOR® said:

Sharron, This was written somewhat, "tongue in cheek", however, I really meant what I said here: "I can honestly say, I have no regrets about the risks I did take but many regrets over the risks I did not take."

Also, I did the 50th birthday thing in 2006.

July 13, 2007 2:11 PM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

Those pictures (the actual photos) are so vibrantly colored, they almost look fake though I know they're not.

As for missed opportunities, I don't think anything that could have been done better in the past would trump anything you can do better in the future . . .

July 13, 2007 2:12 PM
Bill Thompson, REALTOR®
Member Since '07

Bill Thompson, REALTOR® said:

Candice-The pictures are quite real. Mine are anyway, your blue face thing is cool but not real, right.

Wow, I really like what you said here: "I don't think anything that could have been done better in the past would trump anything you can do better in the future . . . " I may have to have a plaque made for my office with that on it. I like that!

I have another on on my office wall that says "The secret of success in life is to ready for opportunity when it comes".

July 13, 2007 2:16 PM
Mary Welch
Member Since '04

Mary Welch said:

Can't let the "what ifs" drive you nuts. Most of the time we only have enough light for the step we are on, no more.

I am glad that the risks you did take, you have no regrets, that says alot.

Now personally, my "what ifs" don't bother me as much as my "whats up with thats".

So since you still have plenty of life ahead of you....dance. (now don't flit around like a ballerina, keep it real, lol).

July 13, 2007 2:25 PM
Bill Thompson, REALTOR®
Member Since '07

Bill Thompson, REALTOR® said:

Mary-I'm running out room on my office wall but will see if I have room for one more with "What's up with that?" on it...I like it!

July 13, 2007 2:31 PM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

The pics are so beautiful.

BlueManGroup, otoh, could be 'fake' technically. There are actually hundreds of them, and a training academy that trains them. So if you have talent for percussion using PVC pipe, it could be a great second career . . . LOL

"Opportunities multiply as they are seized"  Lao Tzu

July 13, 2007 2:49 PM
Bill Thompson, REALTOR®
Member Since '07

Bill Thompson, REALTOR® said:

Candice said: "So if you have talent for percussion using PVC pipe, it could be a great second career . . ."

PVC pipe playing would be my 3rd career, Real Estate is my second career.

Okay I have definitely run out of room on my walls, putting the Lao Tzu thing on the celling.

July 13, 2007 3:27 PM
Belinda Walker
Member Since '06

Belinda Walker said:

Me too, 50 in 2006.

July 13, 2007 3:31 PM
Belinda Walker
Member Since '06

Belinda Walker said:

I think it is Jack Canfield or James Ray that says - "when you are driving a car at night, you can only see about 200 hundred feet ahead of you at any given time and yet, the road keeps unfolding as we go along and we arrive safely.  It's the same with life, you just have to have faith that the "road" will keep unfolding ahead of you."

Nowhere in there does it say that you're supposed to be looking back over your shoulder!

July 13, 2007 3:33 PM
Bill Thompson, REALTOR®
Member Since '07

Bill Thompson, REALTOR® said:

Bee- I like that too. The ceiling will be full soon too.

July 13, 2007 3:45 PM
Team Stevens
Member Since '03

Team Stevens said:

Nice deep linking Bill.  Cute post.  I have pondered the same thing here lately.  Good thing when we second guess ourselves it is usually for a good reason.  I was 2 number away from winning the lotto Thursday and the other 2 numbers were ones I would have played.  If only.  Sometimes I think it's more fun to dream about winning the lotto.  Maybe not but it sure if fun dreaming.

July 13, 2007 4:28 PM
Mary Welch
Member Since '04

Mary Welch said:

Bill, are you adding on a wing yet with all the sayings?

July 13, 2007 4:30 PM
Belinda Walker
Member Since '06

Belinda Walker said:

Sorry, Christine - it's more fun to win (I'm guessing)

July 13, 2007 5:04 PM
Belinda Walker
Member Since '06

Belinda Walker said:

I'm sorry - I MEANT "ChristinA"

July 13, 2007 5:05 PM
Bill Thompson, REALTOR®
Member Since '07

Bill Thompson, REALTOR® said:

It's all about the journey...

Christina, My wife calls me a "dreamer" quite often. I have recently started saying "Thank you!" when she says that.

Mary, The wing is a good idea.

July 13, 2007 5:06 PM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

Bee, I'll be darned . . . you are older than me but only by 1 year and a coupla months . . . I wouldn't have thought it.

Bill . . . you might be the first BlueMan with a 'stash' . . .LOL . . . and in a kilt . . . ROFL

July 13, 2007 8:25 PM
Bill Thompson, REALTOR®
Member Since '07

Bill Thompson, REALTOR® said:

Candice - This thread is about taking risks ;)

July 13, 2007 8:28 PM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

Maybe PVC bagpipes, then! You make that happen and I will represent you . . . you WILL be a star! Specially if you can play BlueMan stuff on them . . .

July 13, 2007 8:47 PM
Bill Thompson, REALTOR®
Member Since '07

Bill Thompson, REALTOR® said:

That crossed my mind too ;)

July 13, 2007 8:48 PM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

OK, well get practicing . . .

July 13, 2007 9:01 PM
Radley Reiff
Member Since '04

Radley Reiff said:

Interesting topic here Bill..... If I could go back in time and redo, I would CERTAINLY take more risks.  You guys think I'm nuts anyway and my risk status now is off the charts but I would even ramp it up higher.

As long as you have your value and belief "anchors" in place, I really do not think you can take too many risks.  However, I do think people, and this entire world needs to focus on what IS important and what they really DO believe in.  Outside of that, everything else is just "sweating the small stuff"

Just had a similar conversation with my old man about 6 weeks ago (bear in mind he is attorney... Harvard no less) and he was calling me "illogical" .... my response was SO?  Logic is bad, Illogical is GOOD.

July 13, 2007 9:09 PM
Radley Reiff
Member Since '04

Radley Reiff said:

On a follow up, everybody is different and everybody has different wants/needs/comfort zones so I do not recommend risk taking to all personality types..... but, if you LIKE risk, then do it !!!!

July 13, 2007 9:13 PM
Bill Thompson, REALTOR®
Member Since '07

Bill Thompson, REALTOR® said:

I let so many opportunities pass me by when I was younger. I have invested in RE long before getting my license and I see properties today that I could have bought for a fraction of what they are worth today...makes me sick! I have done well, but could have done better.

I passed up one commercial property that a friend of mine purchased after hearing me talk about it. She started turning a $60k net in rent above all expenses immediately on that one and just recently sold it for a huge profit, did a 1031 exchange for warehouse with a long term lease by a multimillion dollar company that is traded on the New York exchange. I had dinner with her and her husband last night to celebrate her 50th birthday...thus, this post.

July 13, 2007 9:19 PM
Belinda Walker
Member Since '06

Belinda Walker said:

it's easier to take risks if you don't have to worry about anyone else - a spouse, children, etc.  Which means it's easier to take risks when you are young.

When I took a risk a little over 10 years ago to go to work for a start up company, I ended up divorced because of it.  We had to move from Houston to Austin (I was making more money than my hubby, so it made sense to go where my work was). I was traveling a lot and my husband had a hard time finding a job and was staying home with the kids while I was in Atlanta, Philly or wherever.

We got married again and then I took the leap of faith, quit  my job here and went into real estate.  I don't think divorce is pending, but he's not a very happy man :(

July 13, 2007 9:21 PM
Belinda Walker
Member Since '06

Belinda Walker said:

jeez, Candice, announce it to the world why don't ya?  :)

July 13, 2007 9:21 PM
Bill Thompson, REALTOR®
Member Since '07

Bill Thompson, REALTOR® said:

Bee - True, it is easier when you are young with only yourself taking the risk.

July 13, 2007 9:23 PM
Radley Reiff
Member Since '04

Radley Reiff said:

Reading every word of this post..... Bill & Bee, you guys are talking about jobs and money and deals in Bill's case.  Money is totally replaceable by the way.  Real risk taking is outside of that.

I have been successful in real estate because I have learned to deal in "unknowns."  Unknowns are everywhere and we still encounter them every day.  It is how we deal with those "unknowns".  Everything is a "state of mind".......

July 13, 2007 9:26 PM
Radley Reiff
Member Since '04

Radley Reiff said:

Feeding family and children is not risk taking, that is a responsibility.  If risk taking does not work out, you can live in a van down by the river.  Some of the HAPPIEST people on this planet live in very inexpensive housing.

July 13, 2007 9:27 PM
Belinda Walker
Member Since '06

Belinda Walker said:

Well, if that's the case, Radley, getting up in the morning is a risk.

July 13, 2007 9:29 PM
Belinda Walker
Member Since '06

Belinda Walker said:

I could do that, Radley - my husband wouldn't.  We have a basic difference of outlook, he and I.  I am the risk taker, he's doesn't like too much change.

July 13, 2007 9:30 PM
Radley Reiff
Member Since '04

Radley Reiff said:

Bee, I think it is sometimes HARDER to take risks when you are young because of normal expectations.  For example, my A asst Molz, just graduated from Georgia Tech.  She has been running errands off and on for 3 years during slow semesters/summers but just graduated.  I told her that she could stick around if she wanted to.  Her very successful father is probably saying "go work for a blue chip company" but she is here now and loving it.  Her base salary is way higher than NAR average by the way.  

July 13, 2007 9:32 PM
Belinda Walker
Member Since '06

Belinda Walker said:

Let's compromise and say that taking risks is hard for anyone.  It's tougher if you have other people who are counting on you to provide stability in their life.

July 13, 2007 9:34 PM
Radley Reiff
Member Since '04

Radley Reiff said:

Bee, go take that DISC test.... www.onlinedisc.com .... it's the standard $25 version without the supplements add ons.

We all take it from time to time just to see how comfort levels change.  You are probably cool with risk and he is not.  Like I said before, it all depends on if you LIKE risk or not and what your S factor is.

ps

I already know your test results but take it tonite and let me know.  You have to give credit card and wait like 20 minutes for passcode.  Test only takes like 10 minutes.  

July 13, 2007 9:35 PM
Radley Reiff
Member Since '04

Radley Reiff said:

No Bee, it is not harder.  Just different.

July 13, 2007 9:35 PM
Belinda Walker
Member Since '06

Belinda Walker said:

What is the score range and what do you think my score is?

July 13, 2007 9:36 PM
Belinda Walker
Member Since '06

Belinda Walker said:

No it's harder, trust me on this.  When you have someone yapping in your ear constantly - it's hard.

July 13, 2007 9:37 PM
Radley Reiff
Member Since '04

Radley Reiff said:

Bee, hop over to Delete thread

July 13, 2007 9:37 PM
Shelly  Constantz
Member Since '07

Shelly Constantz said:

Radley, good use of the delete thread.  I'm proud of you!

Bill, I always like the saying, We do the best we can with what we know at the time.  

I am a risk taker, in life, in business and in love.  But I always weigh out the consquences and then have to choose the road.  sometimes I am right and sometimes I am wrong, but I am never regretful, as I know that was the right choice FOR ME at THAT TIME.

Shelly

July 14, 2007 12:45 AM
Bill Thompson, REALTOR®
Member Since '07

Bill Thompson, REALTOR® said:

Shelly - Great attitude!

As I mentioned earlier, I had dinner Thursday night with a friend and her husband. She had taken an idea I had, invested in a property I almost bought and has been able to retire off it. She is one year younger than I am...

July 14, 2007 11:46 AM
Shelly  Constantz
Member Since '07

Shelly Constantz said:

I know Bill, I did read your post.  That was a damn shame!! But at the time, you made a decision that made sense for you and your famly.  the other side of any risk is the downside. Obviously the downside was too great for you to make the jump.  That is risk/reward.  the higher the risk, the higher the reward.  Know that if you had taken the risk, and it had gone the other way, you may have put your family, or home, or business in jeaporday.  You made a choice that was right for you, at that time.  And you look like you are doing ok, to me!!  

July 14, 2007 11:55 AM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

LOL Bee, if you look good, hell yeah b'cast it!  :)

I have long believed that marriage, stability, children etc. is the ultimate risk! That's why it took me so long to get married, LOL

We all have had the real estate deals that got away. Bill, you'll have a chance again in a few years . . .

July 14, 2007 12:26 PM
Bill Thompson, REALTOR®
Member Since '07

Bill Thompson, REALTOR® said:

Yes, it is sort of like fishing, "You should see the one that got away!" Oh well, "no crying over spilled milk", "water under the bridge", etc. etc. etc.

July 24, 2007 9:50 PM

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