What do you rate these two areas as?

Hi folks,

Just wondering how important investors rate these 2 areas when determining the long term success of their property investing/goals attainment.

1. Property investment knowledge/experience,
2. mindset development.

I'll start it off with 1 @ 30% and 2 @ 70%. Interested to see what others think about this. cheers.

Leo
 
Not really possible to put a number on it since its intangible.

You either believe or have the guts you can do something more or you don't. Part of that relies on knowing 'something more' exists, and also how to attain it, but it's a waste of energy and time to think about how much this counts.
 
Success = 80% Correct Mindset x 20% Applied Strategy

In other words, how you think is 4 times more important than how you do it.
 
You definitely need both, and mindset is definitely the more required of the 2.
The percentages will never be truly known.
Can you have 100% for both?

But seriously, with the right mindset, it's almost impossible to fail at something so simple as property.
 
You definitely need both, and mindset is definitely the more required of the 2.
The percentages will never be truly known.
Can you have 100% for both?

But seriously, with the right mindset, it's almost impossible to fail at something so simple as property.
Wouldn't that be 50/50 :)
 
I don't know.... I'm not not so sure about planning, strategy, mindset and all that.
I think 'taking action' is more important.
 
Wouldn't that be 50/50 :)
Are we talking effort or contribution to success?
I believe we should give 100% effort to all aspects.
Just because there's an 80:20 rule, or 90:10 rule, doesn't mean that the 20 or 10 portions don't need 100% effort, just means you spend proportionately less time on those parts.
 
Are we talking effort or contribution to success?
I believe we should give 100% effort to all aspects.
Just because there's an 80:20 rule, or 90:10 rule, doesn't mean that the 20 or 10 portions don't need 100% effort, just means you spend proportionately less time on those parts.
It could be pointed out that 50% is still significantly higher than 80% x 20% which = 16%

How about 1/2 Moxie mixed with action + 1/2 mindset + 1/2 knowledge!?
 
It's really just a matter of digesting your experience in the moment so to speak, as there is really nothing else except your experience of that moment

Slow contemplation of each passing moment of experience will
Eventually reveal the emptiness of each moments "problems"

Then there you have it, what else would be wrong? The fear, anxiety, worry endless ramblings of fiction- empty

Only pure energy would remain- and do what you will with that if you will- nothing to stop you any more! only your last breath- whenever that happens and even then when it dawns apon you - no problem!
 
Are we talking effort or contribution to success?
I believe we should give 100% effort to all aspects.
Just because there's an 80:20 rule, or 90:10 rule, doesn't mean that the 20 or 10 portions don't need 100% effort, just means you spend proportionately less time on those parts.
100% effort on each portion
 
mindset 90%
knowledge is transient and easily acquired.

Without the correct mindset, even if you make money, you will attract a way to lose it again and not even see how you are doing it.
 
Yep, just like someone from Houso's winning the lotto.
They'd either be broke again, dead, or both in 6 months.
Money does more harm than good for some people.
 
I think most of you who replied quite strongly feel that the importance of mindset development is really the foundation to achieving anything great. I obviously hold a similar opinion. Like some of you mentioned, i think 100% effort in each area is essential, although i do give much more weight to the mindset factor over the investment knowledge facotor when it comes to which one will make a bigger impact to our success. Personally, i've never met anyone who has been extremely successful in any field without developing and maintaining a highly sophisticated mindset.

Thanks for all the feedback and comments guys and gals.
 
Top