My First Failure...

Way to look at the positive and learn from this non deal as you put it. I think you are exactly right, that even though things don't turn out we can see it as a learning experience and move forward. All the best! Happy Holidays!! Tammy

No worries. You are already further along than most. This is where a lot of people give up, but DON'T. Look back, not on how people did you wrong, but on how you can prevent that in the future and what you can do different next time. I know it sucks to put so much work in and then it turn out not so good, but keep your chin up, you're only out time. Onward to successful deal #1!

-Susan

I'm way ahead of you on failures though! More than we can count! But keep your head in the game, analyze where things went wrong and adjust. Awesome attitude, keep up the good work! Keep us updated!

your loss of financing. Nothing can prepare you for this even when you do a complete due diligence. As the bumper sticker says "SH*T HAPPENS". I hope you can recover from this and move on as all investors have run into a bad situation at least once.

the bumper sticker is right...but most choose to wallow in it. Most everyone on this site chooses NOT to wallow in self pity but rather pick it on up and move it on down the road. My message isn't designed to bring sympathy or empathy for myself rather give those on this site that aren't sure or have fear to take action. There's a GREAT book out there by John Maxwell that I recommend. It's called "Failing Forward". Dean also knows a thing or two about how to handle failure and he has some great posts on it in addition to his great books. Get out there and TAKE ACTION!!! You can do it, the price of success is failure. Without failure there would be no successes in this world.

you're lucky, you are in the company of many who 'have been there, done that'!
but as you say, how else would we learn? no one can do it for us, we have to go out there and take some action, and learn...

congrats for taking action, and not letting obstacles keep you from reaching your goals!

Learning and progressing every day,
Valerie

Even though I am very successful in wholesaling there are still times I too get burned by the fire. REI is an ongoing learning process. We learn how to improve and get better by our own failures not so much the failures of others.

When we hear stories of other people getting burned we feel bad but it does not truly effect us. But when we ourselves get burned by the same fire we quickly learn how to do things differently.

I have been burned many times and I still have the scars to prove it. However each burned refined me by the fire and made me more determined to do it differently next time.

Your determination is an encouragement to us all!! Keep on keeping on

You're right, you get nothing from wallowing in self pity. When we fail the BEST thing we can do is learn from our "failures" then move on with the wisdom gained.

Happy investing!

Keep trucking man along with learning real estate I am building my own web business. Dissapointment and failure are nothing but a dip. The learning process before you get to the other side. Thomas Edison never gave up. These moments are nothing but an opportunity to get stronger and wiser. Best. Jason
http://www.jasonbaudendistel.com/blog.html

I remember Dean saying on the Edge dvds, "If you haven't failed this week, you're not trying hard enough"
Training in martial arts, I've learned there is no victory until there is no fear of losing(failing). The best mindset is when you can step on the mat, forget about the crowd, forget about your fear, and go out and give the match your best shot.
Its great that you made this a positive learning experience. Now, doing another deal is no sweat because you know the worst that can happen.
Good luck!

RENinja

You've got a winning attitude!

Linda

Hi Lance hey what a great attitude an we are always learning win or lose, but that due dilgents is so important, chuck this one aside but learn from it an lets move on my friend, cant make hay if it rains, keep it dry an lets get to the next one, have an awesome day, isnt this fun Jim

Hi Lance there are no failures in life an the only failure is if we quit, we are always getting better unless we are a couch potatoe an we will always be learning, unless your six feet under( from ground level that is in total unconscientiousness with no life force), Jim

Great attitude and congratulations on the failure. It is through failure that we are refined and educated. Dean says it best when he says, "if you haven't failed.....you haven't tried hard enough" Failure is the tape by which we measure our success. If you view each failure as the next step to success, assuming of course we aren't on a merry-go-round making the same mistake over and over we will never lose focus on our ultimate goal. It is with greater determination and fortitude that we will march onward. Ever aware of our mistakes, but using them as stepping stones by which we move forward rather than insurmountable mountains.

Excellent job! Hold your head high and keep moving forward.

Thanks Lance for sharing and reminding us to be always on our Ps' and Qs'.

Sandra

Agree only with failure do we learn lifes lesson's. Now you know the wrong way to do it, now the first deal is just around the corner. Looking forward to hearing about the next great deal...Action+knowlegde=success...

Happy Thanksgiving to ya!!!!!

That's a wonderful attitude you have about what happened. Just use it as fuel to move yourself on to better things.

Don't be discouraged. You'll make it. There is a Taiwanese saying: " Failure is the Mother of Success". You're one step closer to success now.

Every "failure" just helped him figure out what wasn't going to work.

This is the reason I love this place so much, you would not find such helpful ,encouraging, awesome attitude people anywhere else on the planet, a true family!

Even when we dot all the i's and cross all the t's, deals can still fall through. This is an opportunity to learn from the experience. Keep moving forward! NEXT

you are doing great! you have the right attitude and will go on to great success!

Karen