Make a profit in the bad times
Growing up, my family was wealthy both spiritually and physically. My dad was a self made man and a devout Catholic. He had built a fortune in the early 80’s in real estate. I believe he peeked in the early 80s (81-84).
For some background, I Googled “Prime Rate Historical Data” and found that the average prime interest rate for the 80’s was about 15% with a high of 21.50% in December 1980. Also, the unemployment rate in the 80s averaged about 8%, and steady at about 10% from 81 to 83. For comparison purposes, the prime rate today is 8.25% and the unemployment rate as of January is 4.6%.
On the business front my dad taught me, “by low sell low” and “Don’t be afraid to sell in the bad times”. He sold houses, mostly lower income houses far east of town where housing options weren’t that plentiful. He bought property low because of the economic times, and in turn sold low to people who couldn’t afford much. While most people were scraping buy and not investing due to the economy, my family was taking trips to Europe.
Call it coincidence that my dad’s name is James, but I found a passage in the book of James paralleling the teachings of my dad Jim.
“My brothers and sisters, consider it nothing but joy when you fall into all sorts of trials, because you know that the testing of your faith produces endurance. And let endurance have its perfect effect, so that you will be perfect and complete, not deficient in anything.” (James 1:2-4)
Bad times are good times because we know how to handle them. We know they bring us closer to the LORD. If all our times were good, what would the point of living be. If all times were good, we wouldn’t need to be charitable. If all times were good, no one would have the opportunity to help us.
“in everything give thanks. For this is God’s will for you in Christ Jesus.” (1 Thessalonians 5:18)
Emphasis added by me
March 13th, 2007 at 7:07 pm
This is really cool. I’m so proud of your insight and the things that you are finding to share with the world, and me. The LORD will do such great things through you, as you open your life to His will.
So, have you decided what we’re buying and selling low?
love, your devoted wife.