Mexico Real Estate
A WORD FOR THE WISE - A 250 YEAR LESSON by Bruce D. Greenberg
“We are taxed twice as much by our idleness, three times as much by our pride, and four times as much by our folly.” These famous words were written by a scientist, an inventor, a printer, a philosopher, a musician, a statesman and an economist; Benjamin Franklin. This honored Founding Father of the Americas stated, “God helps those who help themselves”; words of wisdom appropriately written for today’s business environment as we struggle to maximize profit. In this current cycle, it is imperative that we work to maximize our profits. Benjamin Franklin understood this 250-years ago when he wrote the guide of how to succeed in business titled “The Way to Wealth”. In 1758, 18-years prior to the signing of the declaration of independence, Mr. Franklin knew how to guide us through these unfamiliar economic times of today. As we enter into 2009 we are filled with more questions and uncertainty each day. Mr. Franklin’s book provides inspiration and sets forth a strong work ethic. From a real estate perspective, I believe Benjamin Franklin would agree it is necessary for a real estate developer to comprehend the Basic Principles of Real Estate. I have paired these seven basic principles with quotes from Franklin’s “The Way to Wealth”. Supply and Demand: “Buy what you do not need and soon you will sell your necessities.” Anticipation and Change: “Beware of little expenses.” Competition: “Fools make feasts, and wise men eat them.”
Contribution: “Always taking out of the pot and never putting in, one soon comes to the bottom.” Balance: “A small leak will sink a great ship.” Conformity: “Silks and satins and scarlet’s and velvet’s put out the kitchen fire.” Externalities: “If you want to know the value of money, go and try to borrow some.” Franklin also taught in his writings, “with our industry we must likewise be steady, settled and careful.” Information during these economic times is critical to the accomplishment of a successful project. “The eye of the master will do more work than both his hands.” Product reviews are key to survival in a slow recessionary market. “Keep thy shop and thy shop will keep you.” Understanding the project in and out, and performing professional market studies, feasibility studies, competition analysis, pricing analysis and product analysis is more important today than ever before. Montaña Verde is committed to providing the developer and lending communities with recovery plan services and assisting in maximizing the stakeholder’s recovery during these difficult times. Benjamin Franklin concludes his doctrine stating, “Those who cannot be counseled cannot be helped.” As we enter into 2009, remember the lessons of Benjamin Franklin: 1) Work hard and be smart; 2) Work hard with care and surround yourself with information; 3) Be frugal, analyze and test your project; and 4) Have the knowledge to make the right decisions.
Bruce D. Greenberg, MAI, SRA, ASA is the principal consultant/appraiser for Bruce D. Greenberg, Incorporated in Tucson, Arizona and Valuacioñes Montaña Verde, S.A. de C.V. Mr. Greenberg serves as a Bi-National Director of the United States-Mexico Chamber of Commerce and on the Executive Committee for both California and Arizona Chapters. Mr. Greenberg is an active participant in the ULI ñ Mexico district. Mr. Greenberg was selected in 1999, by former Arizona Governor Jane D. Hull, as a member of her task force addressing consumer guidelines in the acquisition of real estate in Sonora. Governor Janet Napolitano in 2003 asked Mr. Greenberg to serve on the Real Estate Ad-hoc Committee under the auspices of the Arizona-Mexico Commission. He has been a member of the Financial, Business and Legal Services Committee of the Arizona-Mexico Commission and a member of the National Law Center of Inter-American Free Trade for the past 10 years. He is an active member of the Asociacion Mexicana de Profesionales Inmobiliarios, A.C. (AMPI) of Los Cabos, Puerto Vallarta/Nayarit and Puerto Peñasco sections and is also a member of the Multi List organizations of Los Cabos, Puerto Vallarta and Puerto Peñasco. Mr. Greenberg can be reached at (520) 750-8200, fax (520) 750-8298, e-mail bgreenberg@brucedgreenberginc.com or visit the web page at www.mexicovaluations.com
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