Thursday, March 20, 2014

Knowledge Without Action is Useless, But Three's Company Will Live On Forever

Ever since I saw Mr. Roper on Three's Company, I was interested in landlords.  Yes, I was also interested in Chrissie and Janet more, but I was like twelve at the time.  What can you expect?

If I was really energetic today, I could have photoshopped my face over Jack Tripper's.

Here's Mr. Roper. I get that same look when the tenants are late on their rent.

His successor, Mr. Furley, did not like late rent, either.  Love the shirt.
Like I said, I was interested in landlords.  The more I learned about real estate investing, the more I thought it was a way I could make money.  When I got out of school and started working, the idea of buying an investment property and being a landlord still interested me, and I bought a couple of books and did some reading.  Still seemed like a good idea.

However, it wasn't until 20 years later that I actually acted.  Part of the reason involved rents and the costs of the property, but the truth was I knew some, but did not follow up.  After I did, it turned out to be quite profitable.

Still, as Seth Williams observes, you have to apply your knowledge for it to have value.  Taking action involves making a commitment, of money, time, and risk.  That is the difference.