Lessons From "The Big Short"

I just saw the Big Short this week, and it got me thinking about some things.

A lot of the time when we’re making a decision, there’s a lot of people who will tell us not to do something. They do that because they want to protect us from doing something that will hurt ourselves.

There have been times in my career where I’ve had clients who were excited about buying a property and when they go to open up escrow, they get cold feet. This could be for a number of reasons - their payment ends up being higher than their current rent, for example. 

One instance that comes to mind is a client who opened up escrow on a property and then got cold feet because he received advice from people close to him that the market was going to continue to go down, and that maybe it wasn’t a good time to buy. As it turns out, that same property that he didn’t end up closing on appreciated more than $100,000 in the years since.

There are a few key things that I took away from this movie. The first is be careful who you’re getting advice from. If you’re seeking advice, look for the people with experience in what you’re wanting advice for. If you want to get into rental properties, talk to someone with experience in that.

 

 

The second key here is to make your decisions based on the facts. Look at everything logically and make sure that you’ve got all the information you need to make a great decision for yourself. 

If you’ve got any questions related to this topic or you’re looking to buy or sell a home in Ventura County, please give me a call. I’d be happy to help!