第27部分(第4/7 頁)

certain　area　once　a　month　for　ten　minutes。　I　have　found　some　of　my　best　real　estate　investments　while　jogging。　I　will　jog　a　certain　neighborhood　for　a　year。　What　I　look　for　is　change。　For　there　to　be　profit　in　a　deal；　there　must　be　two　elements：　a　bargain　and　change。　There　are　lots　of　bargains；　but　it's　change　that　turns　a　bargain　into　a　profitable　opportunity。 So　when　I　jog；　I　jog　a　neighborhood　I　might　like　to　invest　in。 It　is　the　repetition　that　causes　me　to　notice　slight　differences。　I　notice　real　estate　signs　that　are　up　for　a　long　time。　That　means　the　seller　might　be　more　agreeable　to　deal。　I　watch　for　moving　trucks；　going　in　or　out。 I　stop　and　talk　to　the　drivers。　I　talk　to　the　postal　carriers。　It's　amazing　how　much　information　they　acquire　about　an　area。

I　find　a　bad　area；　especially　an　area　that　the　news　has　scared　everyone　away　from。 I　drive　it　for　sometimes　a　year　waiting　for　signs　of　something　changing　for　the　better。　I　talk　to　retailers；　especially　new　ones；　and　find　out　why　they're　moving　in。　It　takes　only　a　few　minutes　a　month；　and　I　do　it　while　doing　something　else；　like　exercising；　or　going

to　and　from　the　store。

？As　for　stocks；　I　like　Peter　Lynch's　book　Beating　the　Street　for　his　formula　for　selecting　stocks　that　grow　in　value。　I　have　found　that　the　principles　of　finding　value　are　the　same　regardless　if　it's　real　estate；　stocks；　mutual　funds；　new　panies；　a　new　pet；　a　new　home；　a　new　spouse；　or　a　bargain　on　laundry　detergent。　The　process　is　always　the　same。　You　need　to　know　what　you're　looking　for　and　then　go　look　for　it！

？Why　consumers　will　always　be　poor。　When　the　supermarket　has　a　sale　on；　say；　toilet　paper；　the　consumer　runs　in　and　stocks　up。　When　the　stock　market　has　a　sale；　most　often　called　a　crash　or　correction；　t