Whats your biggest lesson learned to date?

Viewing 6 posts - 1 through 6 (of 6 total)

o0tegs0o
Participant
@o0tegs0o
Join Date: 2010
Post Count: 21
October 8, 2012 - 9:33 am
Hi Guys,
Don't know if this has been done before, but thought it might be fun to open up a thread on the biggest lessons learned good, bad or otherwise from investors to date.
Might just provide some insight for others looking to jump in.
Cheers
Tegan
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
October 8, 2012 - 9:52 am
Never lend any one money – unless you don't expect it back!
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
PLC
Participant
@plc
Join Date: 2012
Post Count: 400
October 8, 2012 - 10:36 am
That applies particularly to family, for some reason they think they have a right not to pay it back.
Cheers
Tom
PLC | Phoenix Loan Consulting
Email Me | Phone Me
Melbourne based Mortgage Broker | Making Finance Simple
Catalyst
Participant
@catalyst
Join Date: 2008
Post Count: 1,404
October 8, 2012 - 10:57 am
Only listen to those that have what you want.
Jacqui Middleton
Participant
@jacm
Join Date: 2009
Post Count: 2,539
October 9, 2012 - 10:52 am
Don't be greedy.
Also, that the rule of "do not get to know your tenants, it is a business transaction" is not always appropriate. My tenants are my customers. If I understand their needs, I can ensure my product is continuing to meet their needs. I am also a big believer that if tenants actually see the landlord as a person, they are less likely to take the mickey and go into rental arrears and such.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone Me
VIC Buyers' Agents for investors, home buyers & SMSFs.
Gazza21
Participant
@gazza21
Join Date: 2012
Post Count: 54
October 9, 2012 - 12:07 pm
Only borrow money from pessimists, they don't expect it back.