At the conclusion of 2009, I wrote how it was my year of personal transformation. Looking back, 2009 was a year in which my life goals were examined, dissected, & re-examined. I literally was able to get to a place where nothing I had previously done mattered, in a purposeful way. I was then able to move forward and create the future that I want to live.
Getting down to nothing for me meant starting from a point where anything was possible for the future. While the past is interesting and often a learning tool, it doesn’t need to be a drag on the future. From the new starting place of nothing, I came to realize that several of my goals were indeed the right direction (e.g. speaking business) and I retained them as goals; a renewed vigor has been directed towards their accomplishment. From that same perspective, other goals that I had previously adapted needed to be released (e.g. property management). So if 2009 was the year of deep reflection and personal transformation, then 2010 is the year that those changes be put in place … a year of action … and a year of Gumption.
In early January I laid out my new possibilities for 2010. They included reducing debt, improving cash flow, consolidation, and getting out of the property management business. Writing these goals in a very public way in my blog was a way of making myself accountable, in the spirit of Gumption. Sharing my goals and the periodic updates with you, my reader, allows me to demonstrate the results of living with Gumption!
Last week was significant as one more piece of the puzzle was put in place.
In May I told the story of moving from town to the country. In addition to reducing debt and improving cash flow, that move allowed me to consolidate one less property to maintain.
Fortunately last week another important piece of the puzzle fell into place. I sold an apartment building.
Selling investment property in the current economic climate has been a challenge. Smart investors know they have the upper hand. Real estate prices have continued declining since 2007. Banks no longer make loans that just a few years ago were made with ease. Federal regulators have closed the door on stated-income loans. All the T’s must be crossed and the I’s dotted to meet federal loan-lending requirements … borrowing is more difficult.
What this economic climate meant in the pursuit of my goals was that I of course had to work harder, and smarter, to achieve them. I had to make Choices and face Adversity with Gumption. In the end, maintaining the character traits that I believe in, I was able to accomplish another step in my goals and sell an apartment building. I sold it for less than I purchased it 6 years ago; that part does not feel good. But I was receptive to the opportunity, and it was the right decision for me. It meets my current goals of improving cash flow, reducing debt and removing me from the job of property management.
While I wasn’t smart enough to foresee the recession and housing market crash, I’ve been smart enough to make some tough choices that are appropriate, necessary, and compatible with my long-term goals. Another piece of the puzzle is in place, and Gumption is once again successful and apparent.
Next Blog Title: Forrest Gump and Persistence
Next Blog Date: June 28, 2010