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Borrow money when you don’t need it, because when you need it, you might not be able to borrow it.
A few years ago, I had banks throwing money at me. I decided to borrow, even though I didn’t need the money at the time, and in so doing,
I
greatly boosted my interest costs. But all of a sudden, a large casino under construction in Lake Charles, Louisiana, became available. I was able to act faster than anyb...
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Take that as a lesson
opportunity you see.
Always remember that the greatest opportunities are in bad times.
Opportunity is always there, no matter what the current conditions may be. • When times are good, we tend to forget that at some point they’re going to be bad. • Borrow money when you don’t need it, and build cash when times are good, so you can take advantage when times are bad. • Spotting opportunity requires patience. There’s always another deal.
