Great article I found at http://www.marketwatch.com/story/ by Greg Steinmetz that talks about an amazing man in the 1500's named Jacob Fugger. He was a banker that bank rolled a Archduke when it looked like he was finished.
"Fugger made two massive bets that secured his fortune. The first was to bankroll Archduke Sigmund of Tyrol when it looked like Venice was going to take over the duchy. The dukes’ usual bankers refused to finance him. Fugger came forward and offered everything he and his friends and family could pull together. The duke settled with Venice. In return for his backing, Fugger locked up the concession for the largest silver mine on earth."
That is a bank I wish we had today. This guy was 2% of the European GDP and actually invented the balanced sheets that we use today. This is from the 1500's remember
"Too big to fail isn’t a modern invention. Fugger knew all about it and used it to insulate himself from monarchs who could have reneged on their loans without consequence. Fugger had something he knew his borrowers couldn’t live without: The ability to conjure up huge sums in an instant. Borrowers liked neither Fugger nor his terms. But they couldn’t live without him"
He also made himself indispensable and serviced a need at that time for money. He also insured himself by reneging on loans if the governments changed. This was in the 1500's and they needed money to survive then like today. The economy was a little different, but the need for loans was still there. He worked and studied his clients needs. That how you create any successful business fill a need.
"Fugger understood the value of good information. He created the world’s first news service and used it find out about market-moving events before others. Emperor Maximilian (the grandfather of Charles V) once told the banker that Henry VII had shipped him some gold as collateral for a loan to fight the French. Fugger refused the deal because his spies in England told him the ships never left port."
He also did a little checking to see if what he was hearing was true. Information is everything in business and in Real Estate. Knowing where and when to buy real estate is information investors and home buyers need to make a good decision on a property. Most just look at the projected returns without checking the areas for pricing trends.
Knowing the numbers and the areas that the best chance to create a better equity position then other areas is very important in today's real estate market.
There are areas that I personally watch and understand that are seeing great equity growth and will continue to do do in the near future. How do I know this? I study and watch real estate and read a lot of the experts predictions. I look at a lot of reports and excel spreadsheets on my areas. It helps me to be able to purchase the best real estate available for my clients. I did see Cleveland as a player in real estate 9 years ago.
Get good information is what Mr Fugger understood he needed to be successful will help you in your search for the best real estate for your needs. I do not just sale real estate I study it and give the information to my clients. Call Brett 216-703-5740 EXP Realty Ohio and 602-363-6551 EXP Realty
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Thank you