Two years ago I began Ranjan Bhattacharya’s Mentorship program.
I was focused and driven.
21 months ago I bought my first UK ‘buy to let’ property.
I was succeeding.
17 months ago, I attended ‘Tony Robbin’s UPW’ and subsequently lost a stone and a half. I believed I could do anything.
7 months ago I bought my last UK ‘buy to let’ property and regained my stone and a half. I felt alone and fearful.
What happened?
A year ago, I was very health-conscious, I was running, eating only fresh vegetables and salad, I had lots of energy. I was enthusiastic and generally very optimistic. My head was in a good place.
Now I am a stone overweight, eating loads of junk, drinking too much wine and taking no exercise. Somehow I had lost my direction and belief.
I think I got comfortable, perhaps I thought I had bought enough property and that capital appreciation would now make me rich, I know I became complacent. I was content, no longer pushing beyond my comfort zone. My subconscious could not understand it, I had taken the risks, applied the knowledge yet not experienced the rewards. Perhaps I believed it would still come. As I borrowed more and watched it disappear I became disillusioned. I slowed down, I became inactive, I lost my belief.
They say that failure is a good thing provided you learn from it, so what are the lessons?
Protect the mindset - Be aware of your thoughts. Stay away from negativity and dare to dream big. Don’t ever give up until it is done.
Protect the cashflow - Good debt is fine but always have cash available, hopefully have enough to cover any short-term downturn. This is not easy when you have to borrow to get started. I should have focused less on long-term wealth and more on short term cashflow. The deals are always out there.
Evolve - I realised that the market changed but my strategy did not evolve with it. I kept doing what I had learned with fewer results. I was slow to react. Opportunity abounds, be aware of what is happening and how to profit. Be brave.
It is important to remember why we do what we do, how fortunate we are, we need to feel gratituide for all that we enjoy and love especially towards ourselves. Money and property are resources. What we build with or without those resources is what really matters.
