Quote:
Originally Posted by HippoNipple
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Having land in an ideal and growing area is just lucky. I have a client that is rich because her grandparents owned farm land in Plano (Dallas area) before it developed into a city. Their entire family is rich and didn't earn it.
On the other hand people that work smart and hard tend to get lucky more often than those sitting around doing nothing. Successful entrepreneurs are in the right place at the right time because they were smart enough to steer themselves in that direction.
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My dad owns property all over Dallas. Rockwall/Plano/Frisco. The hard work comes in with owning property like that when you develop it just right.
Selling vacant land is one thing, developing the land for multifamily residential with retail on the first floor is another. Fighting with the city to let you build more units without the requirement of attached garages, having the property rezoned for your intended use, demographic research, appraising it before and after completion, getting the bank to agree on a loan with the right interest rate.
That's where hardwork comes into owning property. I will be passed down some of these treasures one day and I plan to continue tr legacy of my father. Hardwork isn't just working in a rice field until becoming crippled from exhaustion. It's all relative.