# # Entrepreneur of the Week #Secondary #Post 2 Dani Beit-Or The challenge is…
# # Entrepreneur of the Week #Secondary #Post 2 Dani Beit-Or
The challenge is not small in such crazy times to talk about investments, strategies, successes, and failures. And maybe this is the time to learn from previous crises. Different backgrounds, but crises.
At the time of the 2008 crisis, I already owned quite a bit of real estate that I had personally invested and also considerable experience in accompanying close to 1,000 transactions.
It was my first real estate crisis and you could also say a first economic crisis. In the crisis of 2000 I was still young without economic exposure.
The crisis erupted after about 4-5 years after my first investment and about three years after I started engaging in real estate professionally and fully (so I did not even know it was called “investor accompaniment”). To my delight a lot pretty quickly realized what we were heading towards. I have no explanation for why but I just understood. So I started making decisions under this insight. I later thank you for operating under this insight. Don’t get me wrong, I lost, and a lot! But I reduced damage.
My biggest disappointment from this period was precisely from the flawed human behavior of people who until then had considered them leaders in the field. A large portion of them simply disappeared, there was no oil to support and abandoned investors in distress. To this day (12 years later) I have no idea where some of them have gone, mostly charlatans.
Another part went underground or buried its head in the sand and was not really there to lead in moments of crisis, and resurfaced in rage.
I guess some of these people experienced the crisis in their flesh (yes, yes I do too) and it probably affected them badly.
Already at the beginning of the crisis I made a decision with myself – I will be there and answer any call or email that comes from my client even if it means a difficult call, complaints, etc. – and there were many. When it comes to crises people look for culprits and run away from personal responsibility. We are all adults and no one has made a decision to invest in real estate under gun threats, so let us not forget that everyone’s responsibility is also personal.
And yet I was there to support and address. Such conversations lasted until 2010 and possibly even after. I guess these are many hundreds of such conversations. My wife was already angry at me for answering all the calls as if it was my personal responsibility especially when she saw the impact of the calls on me.
But my account was simple – someone is in crisis, I will try to help him and contribute to him from my knowledge and experience, I too in this boat, maybe I can also learn something from him, and at least I give him a chance to express anger and frustration.
Since then I have experienced more small and large personal real estate crises and that is part of the thing of doing. From every crisis I learned I learned lessons and became a better investor and better lender.
I would be happy if you would respond not only to real estate but also to similar crises, did you go through a crisis? How did you recognize that it was a crisis? How did you cope?
Later this week I plan: Lessons from the 2008 crisis and how I see them are really being reflected these days.
את התגובות המקוריות לפוסט ניתן לקרוא בתחתית דף הפוסט הנוכחי באתר או בקישור לפוסט בפייסבוק וכמובן שאתם מוזמנים להצטרף לדיון
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