Gotta be honest. Sharing my track record today was/is terrifying. Including the 2008 losses in a document now seen by over 40,000 people ranks up there on the emotional intensity scale for me. It’s hard not to feel like deals that went south define you.
Biggest lesson for me is be wary of deals that don’t generate cashflow. I had $40M in land dev properties at the same time, in 2008… In Northern California…
It doesn’t matter that I’ve done 160M in equity raises since that time and that those investments have done well.
Emotional intensity aside, I stick by my strategy to always be up front and clear about deals that went south. When I’m 80 I’m still going to be listing those, and talking about the lessons learned.
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