Hi, this is my first post but I have been reading this forum for a while.
Last year, my wife and I have invested in our first IP and are currently thinking about a second one.
As we are starting our research, interviewing professionals for this next step, and reading this forum, it strikes me that very few posts actually write and detail actual failures or mistakes.
Well, everybody actually does, but indirectly:
Past failures or mistakes are always turned around into counsel, recommandation or advice to other fellow investors. This is absolutely great and why this forum is so valuable to the community.
Turning pain, or a bad experience into a Learning is actually a natural, positive, even physiological way to deal with and heal from a negative experience.
However, I think there could be MUCH value in sharing what exactly went wrong for given investment or strategy, and how it happened.
The reason for sharing a negative experience in detail, as opposed to "only" the final counsel, recommandation or advice, is that the FAIL story provides a CONTEXT that others can appreciate in light of their own situation or plans, and act accordingly if needed.
With the cotnext, it might actually be more RELEVANT (?) to all that are still on their journey.
For example, the few detailed negative stories that I have came accross on the forum, are as engraved in my memory as the great success stories.
Hoepfully I'm making sense..
E.g. Here somebody bought a marketed dual income investment without confirming the claims with the council, there somebody purchase an NRAS or OTP without enough DD or negotiation and valuation came 80k below.. etc.
To summarise,
I think it could be interesting if some would spend a little bit of their time to tell everybody about that KEY mistake or oversight that they made on THAT perticular investment or situation which went south. With the context.
Thanks!
The value of the thread will be the sum or those fail stories that we post. Turning bad into good!
Last year, my wife and I have invested in our first IP and are currently thinking about a second one.
As we are starting our research, interviewing professionals for this next step, and reading this forum, it strikes me that very few posts actually write and detail actual failures or mistakes.
Well, everybody actually does, but indirectly:
Past failures or mistakes are always turned around into counsel, recommandation or advice to other fellow investors. This is absolutely great and why this forum is so valuable to the community.
Turning pain, or a bad experience into a Learning is actually a natural, positive, even physiological way to deal with and heal from a negative experience.
However, I think there could be MUCH value in sharing what exactly went wrong for given investment or strategy, and how it happened.
The reason for sharing a negative experience in detail, as opposed to "only" the final counsel, recommandation or advice, is that the FAIL story provides a CONTEXT that others can appreciate in light of their own situation or plans, and act accordingly if needed.
With the cotnext, it might actually be more RELEVANT (?) to all that are still on their journey.
For example, the few detailed negative stories that I have came accross on the forum, are as engraved in my memory as the great success stories.
Hoepfully I'm making sense..
E.g. Here somebody bought a marketed dual income investment without confirming the claims with the council, there somebody purchase an NRAS or OTP without enough DD or negotiation and valuation came 80k below.. etc.
To summarise,
I think it could be interesting if some would spend a little bit of their time to tell everybody about that KEY mistake or oversight that they made on THAT perticular investment or situation which went south. With the context.
Thanks!
The value of the thread will be the sum or those fail stories that we post. Turning bad into good!