Level Three Investing Lessons Updated

Hi everyone,
I know in the past I've shared my investing lessons from prior 12-24 months, but I just got off the phone with my friend and fellow investor (and Maui Advisor) Steve Maxwell and we were talking about our lessons.
I wanted to share three new ones with you here quick and fast...

1. Stick with my core compentencies and stay out of businesses I don't really understand or have Advantages in. I am really narrowing my investment criteria to stick with this rule. Price of Lesson: $500-$1 million depending on outcome. (And here you get this lesson for free... what a world!)
2. It's not the right cash flow deal for me if I'm getting paid my money as an equity investor out of raised investor capital... I want the cash flow I earn to come for a more sustainable source than that... (Price of Lesson: $100,000)
3. I want to see the investment generating this cash flow from customers (I.e. from the business) and not be "proforma" cash flow after the turn around. ($500,000 lesson)

Note: The last two lessons fit for me and my current investment strategy and focus of PRI (Passive residual income) investments.
What are you lessons? Share them here!

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