Reading and Thinking
A short case for making time to read and think before acting, plus one practical book kept within reach of Darryl's desk.
By Darryl McCullough2 min read
FIRST PUBLISHED JULY 2019; EDITED FOR WEB READABILITY.
Warren Buffett has described spending much of his working time reading and thinking so that fewer decisions are made on impulse. I wish I had taken that lesson more seriously earlier, when the daily pull of making deals came first.
It is my pleasure to share, on occasion, real estate investment and development books and articles from authors I know, have dealt with, and trust.
The first offering is a manual authored by my mentor Virgil Opfer with Dan Harrison, titled "100 Equity Marketing Formulas," which is always kept by my desk. Each formula has a one-page explanation that opens the mind to solution-based ideas: using non-cash equities to create cash and cash flow, partnerships, down payments, financing, leasing, options, and using created mortgages and notes to acquire, sell, and structure.
One note for Canadian readers: where the text says "notes" and "deeds of trust," read "promissory notes" and "mortgages." Except for a very few ideas specific to the United States, most of these formulas apply readily in Canada as well.
And remember, these concepts apply to every real estate and personal asset class, from a single family lot to a multi-million-dollar portfolio.
Read, think, and enjoy.