Dealing with stress....

[Prop_Perspectiv]

How do you deal with stress?

I think it is fair to say that (at times) property investing and/or developing can be extremely stressful. It has all hit this week for me and I'm feeling right at the end of my tether.

I have the perspective to know that this will pass and all the little bumps will go away (or at least change ) but it has got me thinking about how to deal with stress in a healthy way.

My situation this week: Going through my first DA/CC process which in itself has been ridiculously long and drawn out due to a) my inexperience and b) rubbish people around me. So I got the final DA's in on Monday and breathed a sigh of relief...only to find out that there was a key piece of info missing. Shouldn't be a big deal but due to aforementioned rubbish person, the info has taken DAYS to get to me. So I now have several people riling at me because the time line is blowing out and there are going to be some serious consequences

On top of all this, the entire family is sick with a really bad flu, we are in the middle of renos and have had the run around with an insurance claim that should have been straight forward. It just never ends.

So, those of you who develop, any tips on dealing with the extra stress? Will it get easier (I'm assuming most of this has been caused by my inexperience) or is this just part and parcel?

 

[Rixter]

Just keep focus on your big picture.

You cant control what others think and/or do.

You can only control what you think and/or do, so deal with issues one at a time.

Remember 'stress' is a self imposed ailment.

 

[Prop_Perspectiv]

And find better people to help....

I am actually hoping to repeat what I'm doing now (I will if it works the way it's meant to), just so I can do it all again without the mistakes....

 

[westminster]

hmmm does it get easier?

Yes and no. There is an awful lot of things outside your power when you are developing. Having a good team helps but when you rely on another body (ie Council) to approve and you have no control over them it's just painful.

To manage the stress:
- have a good buffer $$ to get you through longer than anticipated approval times
- always give yourself leeway when agreeing to timelines
- have a good team
- understand the process so you can pick that team
- have a support team - people who you can go to learn/mentor/whinge when things are hard
- a good goal/reward to look forward to
- nip things in the bud where you can. It is many small things that roll into bigger things which cause stress.
- draw a line in the sand over 'lessons learnt' and try and not beat yourself up over them too much. Work out where you can improve from those lessons and move on.