Investing

(this is the original document, other copy on the web is stolen from here)

       People who accumulate wealth quickly – those who "get rich quick" - do so using a couple of main
routes. Perhaps 1% of them are in the right place at the right time with an IPO in a red-hot market. The
other 99% do so by researching their investment choices and getting to the right deal FIRST. Timing
being a keyword. Commercial real estate as an example: sales of office buildings were up 48% for the
first six months of 2005 over the same period last year - $43 billion in sales. Now's the time to find a
building owner or REIT overburdened with debt that has properties they want to move - a property that
doesn't fit a first class  portfolio might be ripe for rehab and top leasing dollars. Over and over, real estate
that seems overpriced has proven to be low risk. Every real estate entrepreneur begins with one building
at a time and accelerates as he finds his formula. Looking to foreclosure opportunities makes great
late-night television advertising, but there's a reason the lien holder can find neither buyer nor value in
the property. That is a risk-ridden course of opportunity, so do your research thoroughly. Look in the
niches and corners. There are a number of boutique wineries on the market in California that were founded
by wealthy people who found that it takes a lot of agriculture and equipment to produce that bottle of wine.
A property like that can be worth investing in whether you want to make wine or not, if you can find a
buyer for your grapes. There are also tax advantages to acquiring a property with a net production loss
and a lot of buildings and equipment subject to depreciation. Given the consolidation in the wine industry,
the large vintners may be looking for smaller, specialized labels in the near future. And of course, there's
the value of the real estate itself, which can only go up. Investing in wine itself is a little more heady, so to
speak, but a lot more risky. Outside of the occasional lucky guess, the wines that accumulate value are
fairly predictable and expensive to purchase. Wine investment collectives tend to be more for purposes
of entertainment  than a solid ROI. Investment is a game of research. Whatever your area of interest,
know your market's long term trends,  believe that the analysts are of limited, short-term value, establish
your parameters and then wait for the right deal. If you've done the footwork, you'll be there first. You
must take on board just how important research is when making those big decision with your hard
earned income.
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