I want to share with you some valuable life lessons that I've gathered over the years. Recently, as I celebrated my 41st birthday, I took a moment to pause, reflect, and appreciate the incredible journey I've been fortunate to undertake. From my humble beginnings in a poor family in Israel to my current position as the CEO and founder of Blue Lake Capital, a rising multifamily syndication company in the US, my life has been quite the ride. In this article, I'd like to share some of the lessons I've learned along the way.
Lesson 1: Embracing Change
One of the most crucial lessons I've learned is that nothing lasts forever. In the world of real estate, where I operate, market conditions can change rapidly. Just a few years ago, the real estate market was booming, and everyone was eager to invest. However, as a seasoned investor, I've come to understand that markets are cyclical, and change is inevitable. Making investment decisions based on fear and uncertainty is not the path to success. By recognizing that change is constant and temporary, we can overcome fear and make well-informed choices.
For instance, during the 2008 real estate market crash in the US, many investors suffered significant losses. However, those who maintained their composure and understood that the market would eventually rebound were able to capitalize on the opportunities that emerged. By staying calm and keeping a long-term focus, they weathered the storm and ultimately came out ahead.
This principle applies not only to real estate but also to life in general. Ups and downs are a part of the journey, but it's crucial to remember that nothing lasts forever. By embracing change and staying committed to our goals, we can conquer any obstacle.
"By embracing change and staying committed to our goals, we can conquer any obstacle."
Lesson 2: The Power of Patience
Cyclicality is a fundamental characteristic of the real estate industry. Markets go through ups and downs, and properties may not always perform as expected. However, patience is the key to successfully navigating these cycles.
As an investor, I've come to understand that true cyclicality in real estate means having the patience to wait for the market to rebound. While some assets may experience temporary setbacks, history has shown that they tend to recover and thrive over time. By exercising patience, we can make more informed decisions about when to exit investments or make strategic moves.
For instance, I once invested in a property located in a down market. The property's performance was lackluster, and I was tempted to sell it at a loss. However, I chose to be patient and wait for the market to improve. Sure enough, as the market eventually rebounded, I was able to sell the property for a profit.
If you're involved in real estate investing, it's vital to remember that patience is a virtue. The market will experience fluctuations, but by staying calm and focused on the long-term, you'll be rewarded.
Lesson 3: Family as the Foundation
Becoming a mother has profoundly shaped my perspective on life. It has reinforced the importance of family and the immeasurable joy they bring. Family serves as the bedrock of true happiness and fulfillment.
As a businesswoman, it's easy to get caught up in the pursuit of success. However, it's crucial to strike a balance. I've learned the significance of making time for family, even during busy periods. Prioritizing my family's needs over my own has become a guiding principle.
For example, there was a recent work trip I had to take. Although I was excited about the opportunity, I also felt a hint of nervousness about leaving my family behind. Nevertheless, I recognized the importance of the trip and made the most of it. I spent quality time with my colleagues, absorbed valuable knowledge, and returned home feeling refreshed and invigorated.
Upon my return, the warm welcome from my family reminded me of what truly matters in life.
Family should always be a priority, as they provide the ultimate source of happiness and purpose. Making time for your loved ones is a decision you'll never regret.
Learning to embrace change is vital for continued growth.
"Wins" in real estate nearly always require patience.
Keeping your priorities balanced, especially with your family, creates a truly rich life.
In my 41 years of existence, I've gathered invaluable lessons that have shaped my personal and professional journey. Understanding that nothing lasts forever empowers us to make decisions based on long-term perspectives rather than short-term fears. Patience allows us to navigate the cyclical nature of real estate and wait for the right opportunities to emerge. Lastly, prioritizing family reminds us of what truly matters and brings us the greatest joy and fulfillment.
I hope you find these lessons helpful in your own life, and encourage you to also reflect on your own life and success in the midst of an interesting time in real estate. If you have any questions or would like to connect, please feel free to reach out to me.
As always, Be Bold, Be Great, and Keep Pushing Forward!
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About Ellie Perlman
Ellie Perlman is the founder of Blue Lake Capital, a commercial real estate investment firm specializing in multifamily investing throughout the United States. At Blue Lake Capital, Ellie partners with both institutional and individual investors to grow their wealth by achieving double-digit returns by investing alongside her in exclusive multifamily deals they usually don't have access to.
A defining factor of Blue Lake Capital’s strategy is founded in utilizing machine learning/artificial intelligence throughout the course of all acquisitions and asset management. This advanced technology enables the company to produce accurate and data-driven forecasting for all assets on a market, property, and even tenant basis. In doing so, Blue Lake is able to lead commercial investments with the full capabilities of today’s technology.
Blue Lake Capital is the sponsor of REady2Scale, a podcast that highlights the assets, processes, and strategies for the multiple approaches to successful real estate investing.
Ellie started her career as a commercial real estate lawyer, leading real estate transactions for one of Israel’s leading development companies. Later, as a property manager for Israel’s largest energy company, she oversaw properties worth over $100MM. Additionally, Ellie is an experienced entrepreneur who helped build and scale companies by improving their business operations.
Ellie holds a Masters in Law from Bar-Ilan University in Israel and an MBA from MIT Sloan School of Management.
You can read more about Blue Lake Capital and Ellie Perlman at www.bluelake-capital.com.