Lessons Learnt after been burnt

[HD1]

I would like to start this thread called LESSONS LEARNT. Whereby if you've been burnt before or had a bad experience, please comment so that if you after advice hopefully you wont make the same expensive mistakes that we did.


some of mine include:

1. NEVER EVER sign a contract without including and escape clause. Eg: Subject to finance with lender XXXX. we lost a huge deposit becuase it was not included in our contract and we could not settle.


2. This is clishe but true. IF ITS TOO GOOD TO BE TRUE IT PROB IS. A salesman will tell you anything to get a sale.

3. If you not sure what you signing seek legal advice, the cost of a lawyer will far out weigh loosing thousands of dollars if you make the wrong choice.

4. Trust your instincts

5. Do your own indepant reasearch

6. Get a good accountant to help you before persuing anything

I know these seem like basic things to know but heck weve been burnt! If there is more experienced investors who can offer more advise id love to hear from you.

Thank you

 

[alexlee]

You post this, AFTER asking whether anyone has experience with some one-stop-shop marketing company?

You certainly haven't learned your lesson.

 

[depreciator]

Never, ever, let anyone convince you that at the end of a long night it's a good idea to open an expensive bottle of tequila. That was a painful lesson.

 

[Terry_w]

Always read before signing!

Never be director of a company unless you know what you are doing.

 

[boomtown]

Banks always win in the long run with fixed rates.

If you have to ask yourself whether you smell and should take a shower, you need to take a shower.

 

[redwing]

Never, ever, let anyone convince you that at the end of a long night it's a good idea to open an expensive bottle of tequila. That was a painful lesson.

Don't go to wine appreciation nights, after one or two you can't appreciate it

 

[Terry_w]

Never pose for playboy, or cleo.

 

[Rixter]

Dont get your wife & mistress names mixed up.

Seriously though, dont ever let anyone tell you something cant be done.

 

[redwing]

Good judgment comes from bad experience, and a lot of that comes from bad judgment.

 

[Property Meister]

- Just because sugar/salt looks like cocaine, dont try and snort it
- Mixing Red bull with vodka and absynthe does not make it less alcoholic

 

[china]

Never pose for playboy, or cleo.

Why not - has started many successful, lucrative careers?

 

[Terry_w]

Why not - has started many successful, lucrative careers?

It only hurt my career!

 

[sanj]

stop, drop and roll

do not apply lotions or oily dressings

do not drink alcohol

 

[The Y-man]

Lesson 1: Having (long) shares geared at 100%+ during a GFC event is not a good idea.

Lesson 2: paying a deposit to a conman after signing a binding contract to purchase a property is not a good idea.

Lesson 3: Running out of brakes on the main straight at the end of Calder park is not a good idea (yes folks - don't use the standard road brakes on E30 BMW's). Then again, it is probably better doing that there than at the end of the back straight at Sandown (where it is downhill and you'll probably end up on Dandenong rd)

The Y-man

 

[AlmostBob]

Tenants lie
always

 

[redwing]

Electricity bites !

 

[chilliblue]

Never pose for playboy, or cleo.

Pics please so that we can decide

 

[chilliblue]

My dads phrase:

Expect everyone to be an idiot and you may sometimes be pleasantly suprised but never dissapointed.

 

[Aaron_C]

My dads phrase:

Expect everyone to be an idiot and you may sometimes be pleasantly suprised but never dissapointed.

My mother always used to say that she was so happy when she met an idiot because it made it a lot easier for me in this world.

 

[boomtown]

If you replace your clutch with an aftermarket carbonic unit, run semi slicks and launch an AWD car at 5000 rpm the first that will happen is that your front wheels will lift off the ground and the second thing that will happen is that your front diff and gearbox will shatter due to the sudden load difference between front and back.