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I decided to wear my heart on my sleeve a bit in today’s show after a couple of recent experiences. Some are my own, but a couple of other investors, including a mentee of mine have spoken recently about things going wrong and in particular the fear of things going wrong too.
So, I plan to fess-up to a a couple of defeats, setbacks or if you like failures of my own in the hope that you can take something really big away with you: in order to achieve success in property, we may well have to overcome some kind of adversity or a even fear of failure.
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Today’s must do’s
Do you have an investor mindset that prepares you to handle setback, defeat or even failure, or even to deal with the fear of these things happening? Do you have processes in place to help prevent these things happening? These are two of the essential ingredients required to be successful in property, so make sure that you are ready and prepared but at the same time, push through the fear anyway!
Join me at the Property Investor Toolkit Live event on Saturday 1st July in London, evet details here: https://www.eventbrite.co.uk/e/the-property-voice-live-property-investor-toolkit-workshop-tickets-35383373623
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Transcription of the show
Hello and welcome to another episode of The Property Voice podcast. My name is Richard Brown and it’s a pleasure to have you join me on the show again today.
Today’s topic is one that you won’t find too much in the way of content from the property community on in truth. It’s all about handling things that go wrong in our property business.
So, if nothing else, you will get a chance to enjoy a healthy dollop of schadenfreude in this week’s show, as I reveal some of my own biggest setbacks and how I dealt with them.
So, let’s not waste any more time and get right on with the show now.
Property Chatter
I decided to wear my heart on my sleeve a bit in today’s show after a couple of recent experiences. One is my own, but a couple of other investors, including a mentee of mine have spoken recently about things going wrong and in particular the fear of things going wrong too.
So, I plan to fess-up to a a couple of defeats, setbacks or if you like failures of my own in the hope that you can take something really big away with you: in order to achieve success in property, we may well have to overcome some kind of adversity or a even fear of failure.
In the interests of making this a more personal share, the case studies I am about to go through will be unscripted and so if I make the odd stumble or such like…please don’t judge will you? I want to keep it as real as possible you see.
First property – sold
First year in property – 3 properties plus the one I don’t like to talk about
Our latest development project – abortive costs but keeping our shirt
Dealing with setback, challenges and even failure
Mindset – have a solution or can-do attitude, be resilient and ready to handle setbacks in a positive way
Process – have processes and systems in place to help to take the emotion out of the situations that you face
Fear – overcome irrational fears by adopting a business-like approach to your investing, but don’t be gung-ho either!
I will also be running an event called The Property Investor Toolkit Live on Saturday 1st July in London. It will pick up the key elements of my book; Property Investor Toolkit, along with a sneak peek into 2 brand new chapters coming with a second edition. However, in addition, I am allocating a segment to look at some strategy reviews of some investors to coach live on the day.
If you want to know more about the event, there will be a link in the show notes, or you can just ping me a quick email podcast@thepropertyvoice.net and we can have a conversation instead.
I hope this dip into a couple pf case studies that demonstrate a few setbacks that I have encountered in property has been insightful today. Remember that you can email me podcast@thepropertyvoice.net if you want to talk about anything from today’s show or more generally in property investing, the show notes will be over at the website www.thepropertyvoice.net
But for now, all I want to say is thank you very much for listening once again this week and until next time on The Property Voice Podcast…it’s ciao-ciao.