The Sominex Account Illustrated Via NASCAR For Real Estate Investors
Posted @ 7:53 pm - Filed under Real Estate Investing, Sominex Account, Investment Lessons
For years I’ve referred to a real estate investor’s cash reserves as The Sominex Account. A few days ago a very fortunate NASCAR driver, Michael McDowell, hit the wall at somewhere around 180 miles an hour, give or take. Geez! To say his car was destroyed would be to strain understatement. It was obliterated, then burned. It banged into the wall, flipped who knows how many times, then caught on fire — all at that heart stopping speed.

Thankfully NASCAR has their version of The Sominex Account too — ‘Cuz you never know when Murphy is gonna come knockin’. He will eventually. He always does. Sooner or later every real estate investor has their turn in the barrel with Mr. Murphy. The question is, when he visits you, will you still sleep well?
When it happens to you like it happened to Michael, will your ‘crash’ end up the same way Michael’s did? Will your Sominex Account do its job perfectly?
Watch in amazement what happens to the driver in one of the worst NASCAR crashes I’ve ever seen. Then think of the real estate version of that fiery scene, and ask yourself if your cash reserves are up to the task. Go ahead, take a look.
His Sominex Account allowed him to walk away. Will yours? Error on the side of bigger, not smaller.
This entry was posted on Saturday, April 5th, 2008 at 7:53 pm and is filed under Real Estate Investing, Sominex Account, Investment Lessons. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.