Nov 25, 2019
Have you made any mistakes in your investment career?
If you’re an investor, you almost certainly have made some mistakes.
Nobody starts out as a great investor – property investment is a learned skill.
Today, I’m going to share with you one of the biggest mistakes I made early on in my investment career.
I hope you’ll learn something from my mistake today.
I’m then going to have a chat with Pete Wargent about 3 demographic trends you need to understand as a property investor. I also have a great mindset message for you.
My Worst Investment Loss Exposed!
I’m keen to tell you the story of how I lost 100% of my invested capital many years ago, way back in the 1970s, and the investment mistakes I made which created this disastrous result.
But first I want to explain the 2 main reasons why I’m sharing this story.
You’ll not only learn from the investment mistakes you make, but you can also learn from other people’s investment errors so that you don’t have to make the same mistakes yourself.
Most investors pay the market a huge learning fee in the way of mistakes.
Studies show that around 50% of investors who buy an investment property sell up in the first 5 years. Clearly, they’ve done something wrong.
And most investors who stay in the game don’t make it past their first or second property, so clearly, they’re not doing things right.
So why not learn how to avoid their common mistakes?
Don’t be so hard on yourself when things don’t go as planned because the key to long term success is what you do when this occurs and the lessons you learn from your mistakes, so you don’t repeat them.
Here are a few of the more obvious mistakes I made with this investment:
I learned many lessons from this experience including:
My worst investment mistake was a cheap lesson
This investment was the first of many learning fees I’ve paid to the market over the years.
I’ve made a lot of mistakes and paid a lot of learning fees during my journey to investment success.
Nobody starts out as a great investor. Property investing is a learned skill.
You now have indisputable proof that I began life as an investment sucker.
Few people have made more mistakes in their investment journey than I did.
In fact, I’ve often said I’m a real success at failure.
Yet, I’m a successful investor today, and it’s largely because I’ve learned from my mistakes.
I hope you’ve also learned something from my mistake.
Highlights from my conversation with Pete Wargent about Demographics
Links and Resources:
more notes and details at the show web page: My biggest investment mistake exposed | 3 demographic trends all property investors must understand with Pete Wargent
Some of our favourite quotes from the show:
“I’ve actually learned to say no to more opportunities that come up than yes, and I’ve made more money by saying no to them.” – Michael Yardney
“One of the key factors to my investment success is that I always try to learn from my mistakes.” –Michael Yardney
“Your mentors are the people that you hang around with that you learn habits from.” – Michael Yardney
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