Sailing Away
Sailing Away
And why only some? Aren’t we all genetically predisposed to be the best that we can be?
The answer, simply, is no. Otherwise, no one would be successful. And our journeys would all be, for lack of a better word, boring.
Here are some speakers in the Money Summit 2011 who defied the odds and became masters in their own fields:
NOLI ALLEJE
I was into everything before I started doing real estate. As an entrepreneur, I started off with window furnishing in the late 70’s, then went into knitwear in the 80’s and a PR company that focused on beauty contests … We handled Triumph Court of Fashion, Palmolive Circle of 10, Mutya ng Pilipinas and Miss Asia Pacific plus Eupohoria Disco … in the early 90’s, Iwi Laurel and myself put up the first real estate talk show on nationwide television … sometime thru those years, I became the Philippine representative for Joe Weider products (muscle building drinks) and regular jobs in financial institutions such as Bancom Philippine Holdings, Union Bank and ULTRA, the concert and sport venue.
It was only when I started selling real estate and investing in real estate that I can say that I reached financial maturity. The Property Forum was granted exclusive marketing contracts in the mid 90’s which was right smack in the Asian Crisis period … That is the time I realized that my expertise was on distressed properties since our sales was great during bad times … So the years after, I started doing auctions with the major universal and commercial banks …
We began doing bulk investment from bank assets 3 years ago and last year, we decided to buy the asset management company of GE money bank from GE Investment in Norway … As an investor, I basically buy and hold while I wait for nature to solve the headaches … Sometimes dump the lousy assets and just collect the good ones …
Lesson: I like what Noli Alleje said here – that in real estate investing, particularly in investing in distressed properties – one technique is just to buy and hold while waiting for nature to solve the headaches. So if applied to the US real estate market (or to stocks), the time to buy is now. But many are still scared. And that is why people like Noli Alleje emerge the winner.
