We’ve all been in a “consider the larger picture” scenario at some point in our lives. Usually precipitated by an overreaction to a smaller event, someone will tell us that we’re misfocusing, that we should think instead about the big picture. And when we fail to focus on the picture and get caught in the brushstrokes, we risk missing out on things that are really great. Not only that, but we risk losing money because we fail to take the steps necessary to secure a financially secure future.
Jason Hartman thinks about the big picture in blocks of 27 ½ years—the depreciation schedule, in case you’re wondering. Think down the 27 ½ year road to when you’ll sell your income properties so that you’ll be able to restart the clock on depreciation. Think about the big picture.
In previous commandments, we’ve talked about how the investor feels the bumps in the road in ways that other investors do not. It can be rocky, sure—and you might feel easily discouraged in the early stages, but think about things down the road. As an investor in income property, you’re actively setting yourself up to make great money.
Another way to put difficulties into perspective is to think about them as compared to other forms of investments.
If you can find an investment that is better, we’d love to hear about it! But the truth is, you can’t. We’re passionate about income properties because they make the most sense for your five, ten, twenty year plan. As an investor, you have to think about your goals and then develop an action plan to get you there. For many, this vehicle is income properties.
Bob Ross, famous for his show, The Joy of Painting, began his show after being inspired by the mountains of Alaska and seeing a similar show during his bartending shift. Making and selling paintings based on that particular style made him more money than his Air Force and bartending jobs. He started his own show, but it made little money and was hardly successful. To save money on haircuts, he permed his hair, and although he didn’t like it, it made him famous.
Paintings, not brushstrokes. (photo credit: Kristofer Williams via photopin cc)
* Read more from JasonHartman.com
Thou Shalt Make Rational Decisions
Thou Shalt Use Shelters to Protect Wealth
The Jason Hartman Team
