Chapter 7. X Factors

Real estate is subject to all kinds of externalities that can do you in if you’re not careful—and sometimes even if you are careful.

You can get really good at doing one particular thing, and then all of a sudden, that particular thing may go from being profitable to unprofitable. You can pour your heart, time, and money into a specific project over months or years, only to discover that the world has changed in ways that you couldn’t have anticipated, and which are poisonous to your pet project.

There are X factors over which you have little, if any, control. People use the phrase X factor to mean lots of different things. I use it to describe an outside influence that you don’t control, but which has the ability to change ...

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