54.“Without vigilance, heavily debt-ridden, speculation in housing, and over greedy” These are the critical reasons of the failures in real estate investments.
54. 「沒有警惕、負債過高、炒樓 與 貪心過度」是房地產投資失敗的主因
Precious advises to success - 15 secret codes
導向成功的金玉良言 --- 成功秘碼 15 條
* Everything in your life has to be moderate and balanced. Do not be too greedy, and no obsession with gambling and women. Only by living in this way, can you keep your wealth safe.
* Investment in real estate is an easy and successful way to get rich. You should not give it up heedlessly, and never be a deserter in the business of real estate.
* If you are familiar with a certain line and used to certain way of making money, you had better not to change your line discreetly. Sometimes changing a trade may bring a big risk.
「如果你已經 ( 熟悉 ) 走順了一個行業，已經習慣了某種賺錢的方法 ，你就不要輕易去改行，有些時候冒然改行，所承受的風險也是很大的。」
* It is very difficult for you to engage yourself in a job you do not quite understand. To make investments in a business you do not understand will be even more dangerous.
* Do not make investment in some business you do not know much. Unless you can learn humbly and ask for advices from you subordinates, otherwise, the rate of failure will be very high.
* If you reverse the major business of financial resource with the minor one, you will lose more than you gain or you try to save little only to lose a lot.
* Making investments in real estate is a remarkable matter. But you cannot do it beyond your financial strength. If you want to borrow money from the bank, you should know your maximum limit and the loan cannot surpass your ability to pay off.
* The risk for long-term investment in real estate is quite low. What I mean is for legitimate long-term investment. But never ever make short-term investment blindly because the risks hidden there are awfully unpredictable.
* Speculation in housing prices is exactly like speculation in stocks. The risks are extremely high. Only the long-term investment in real estate can help to reduce the risks.
* There are too many factual examples of failures in speculations on the stock exchange. My friendly advice is “Do not speculate in stocks, otherwise, your lose will be disastrous.”
* There are people who always idle away their time in pleasure seeking like eating, drinking, or playing as womanizers. They live a luxurious and wasteful life without controlling their desires and finally become heavily in debt. All these corrupt behaviors can only bring shame and ruin upon themselves.
* Being capable of making money is not enough. You should know how to keep and take care of your money. First, do not be too greedy. Secondly, don’t be wasteful or over spending. The last but not the least never go gambling or speculating in stocks.
* If you are still going on seeking comfort and pleasure, being wasteful and living in luxury, you are beginning to go down hill from prosperity to declining. If you are leading a dissipated life without any vigilance and underestimating your opponents, that is the reason for you to turn from strong to weak and finally be defeated.
* If you forget the lesson you have learned from your history, the same mistake will come back again. If you are greedy without vigilance, your victory will disappear like bubbles.
* Learn humbly and ask for advices from you subordinates. It’s more effective to learn lessons from the failures of others than from your own.