By Chris Estey
At just 11 years old, Warren Buffett learned one of his first lessons about investing. He bought three shares of stock at $38, which quickly dropped to $27 before slowly creeping back up to $40. Young Buffett sold the shares for a small profit. Later, that stock jumped up to $200 a share. Feeling the regret of selling so quickly, he realized the importance of patience in long-term investing.
Warren Buffett learned to play the long game, and his approach to investing can be applied in other areas that some people fail to consider—like real estate. Buying real estate is the most significant investment most people will ever make. It can be hard to imagine that paying such a hefty price tag and keeping up with monthly payments will ever be worth it, but with patience, it pays off to make that long-term commitment….