Very few long term actions in life are fully positive, somewhere along the way we experience some negative experience. Legendary basketball player Michael Jordan once said, “I have looked at every experience I have had either positive or negative and I have seen all those experiences as being positive.”
Isn’t that a great positive statement.
There is no doubt that every time something goes wrong we should treat that as a learning curve to improve on the next time around.
That is why few people starting out new at anything in life do very well at it in the very beginning. Quite obviously, no matter how much they learn from books there is no learning curve like that of personal experience.
Property investing is no different, it is wonderful if your first experience goes without any hiccup, but if something does go wrong, learn from it and keep on with your property investing goals.
Property investing is truly a way to build wealth, but no-one said it was without its flaws.
The idea is to protect yourself along the way with insurance for your investment property, against tenant late payments and damage and for your personal income.
Turn your negatives into positives and continue building!