𝐌𝐨𝐬𝐭 𝐂𝐑𝐄 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬 𝐂𝐚𝐧’𝐭 𝐃𝐨 𝐓𝐡𝐢𝐬 𝐎𝐧𝐞 𝐒𝐢𝐦𝐩𝐥𝐞 𝐓𝐡𝐢𝐧𝐠—𝐀𝐧𝐝 𝐈𝐭’𝐬 𝐂𝐨𝐬𝐭𝐢𝐧𝐠 𝐓𝐡𝐞𝐦 “You have to be very patient, you have to wait until something comes along, which, at the price you’re paying, is easy. That’s contrary to human nature, just to sit there all day long doing nothing, waiting. It’s easy for us, we have a lot of other things to do. But for an ordinary person, can you imagine just sitting for five years doing nothing? You don’t feel active, you don’t feel useful, so you do something stupid.” - Munger Charlie Munger said the hardest thing in investing is doing nothing. Not Buying. Not building a fancy pitch deck. Just sitting. Watching. Waiting. In commercial real estate, most investors can’t sit still. They feel like they need to buy something—otherwise, they’re not doing their job. So they stretch. They justify. They convince themselves it’s “good enough.” But good enough isn’t how you build lasting wealth. Wise money waits for a deal that’s obvious. A price that’s too low for the value. An opportunity that hits you over the head. That’s when you act—and act big. We’ve gone years without buying a deal. Then found one worth betting everything on. Munger calls it waiting for the fat pitch. You don’t swing at every offering. You wait for one that’s right down the middle. If your capital is patient, your returns will be loud. But if your ego needs action, your balance sheet will suffer. The trick? Make yourself busy enough doing useful things—like improving operations, training teams, or studying markets—so you don’t need to chase deals. 𝐁𝐞𝐜𝐚𝐮𝐬𝐞 𝐭𝐡𝐞 𝐝𝐞𝐚𝐥 𝐲𝐨𝐮 𝐬𝐤𝐢𝐩 𝐦𝐚𝐲 𝐛𝐞 𝐭𝐡𝐞 𝐨𝐧𝐞 𝐭𝐡𝐚𝐭 𝐬𝐚𝐯𝐞𝐬 𝐲𝐨𝐮.