Being mentally tough

Discussion in 'Investor Psychology & Mindset' started by Darlinghurst Boy, 16th Jul, 2015.

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  1. DanW

    DanW Well-Known Member

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    Instead of driving a cab, why not build toughness by going to 15 open houses each Saturday, and putting in written offers 30% below market price while keeping a straight face.

    Handle the agents, put up with their crap, and learn that market at the same time. You never know you might even get a vendor interested enough to negotiate ;)
     
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  2. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    Well it would work if i was in West Dubbo , Moree or Muswellbrook i guess.:cool:
     
  3. Sackie

    Sackie Well-Known Member

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    Actually quite agree with this. If you are very firm and unrelenting on your goals and your position in life, then everything else that comes at you loses its power and relevance. Strengthen your self esteem, confidence, be certain on your position and goals and you'll build a mental toughness and certainty in direction in life that others will come to respect. But it takes some effort to develop first. just my opinion.
     
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  4. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    Can you expand on this Leo?
     
  5. Sackie

    Sackie Well-Known Member

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  6. JenW

    JenW Well-Known Member

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    Mental toughness is an interesting one. We have a large amount of debt for people on our incomes, and when the occasional person finds out about it, they normally gasp. However, we go away and do the sums, work out if we can afford it - and if we can, then we buy.
    The trick then is to just not think about anything going wrong. If something falls apart then you deal with it; but unless this happens, there's no point staying awake at night worrying over something you can't (or won't) change.
     
  7. MTR

    MTR Well-Known Member

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    Success in anything has a lot to do with your mental health, attitude etc.

    I don't even know what mentally tough is, but I know to achieve success in life and to be happy, this is what I would stop doing -

    Holding on to the past
    Negative Self Talk
    Procrastinating
    Blaming Others
    Living for a pay cheque
    Never opening the door to challenge
    Comparing yourself to others
    Not being nice to yourself
    Trying to be someone your not.


    That's enough from Dr Phil:)
     
    Last edited: 17th Jul, 2015
  8. Natedog

    Natedog Well-Known Member

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    X2

    Dont forget the end goal, remind yourself "why" you are doing what you are required to do now to get there
     
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  9. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    No mentally tough is to be able to be resilient.
    I know a guy at my work who works all overtime and has one day off a fortnight.
    Thats 13 days straight sometimes.
    Thats being mentally tough.

    A prisoner in a jail becomes mentally tough.
    Last year i visited a prisoner in Bangkok Thailand he was from the UK, he was 68 and he said to me to survive you have to become mentally tough because even the guards dont care if you get sick, you fall down you stay there all night until the next day.

    Its the ability to get back up again after being knocked down.
    As i used examples before in my university days where i drove taxis in Newcastle , being mentally tough meant getting abused spat at , even attacked by drunks but the ability to get back out and keep going was to test your mental toughness.

    What else is mentally tough? Can u lose a loved one and keep going?
    My Mum always said to me that if she had died first my dad would never been able to cope by himself.
    My dad did go first and my mum looked after herself because she was strong.
     
    Last edited: 5th Aug, 2015
  10. Tom Howes

    Tom Howes Active Member

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    I couldn't agree more.
    Run a marathon. The training will help you develop that toughness. 70-100kms of running each week asking yourself why am I doing this?
    Then during that marathon you will get to a point and want to stop and give up. It is at this point you will know how mentally tough you are.
     
  11. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    70 to 100 km of running a week !!! Omg !!!;) Are you serious ??
     
  12. Tom Howes

    Tom Howes Active Member

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    Yes mate that's what it takes.
     
  13. datto

    datto Well-Known Member

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    I was born tough. As a newborn my mother put me straight onto cappuccinos,
     
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  14. Sackie

    Sackie Well-Known Member

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    Couldn't agree more @Natedog. Personally I believe if a person's 'WHY" is not compelling enough, their results will suffer accordingly. Just my opinion.
     
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  15. The Y-man

    The Y-man Moderator Staff Member

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    I find property investing very relaxing (probably because the mrs arranges everything) - I just go along to opens, see if I like it, get the mrs to negotiate, sign the papers, and get the mrs to organise lawyers, finance and settlement. :D

    The Y-man
     
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  16. Bayview

    Bayview Well-Known Member

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    Most folks think the same, and that is why most folks don't buy investment properties.

    Most folks talk about doing it.

    Anyone here who has bought more than one IP (and has held more than one IP plus a PPoR as well at the same time) is already mentally tough enough.

    The hard part is to STAY mentally tough....a few bad tenants, a few blown hot water tanks, a few months of vacancies...that'll test ya.
     
  17. Sackie

    Sackie Well-Known Member

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    Absolutely agree with you. Really this whole 'mentally tough' talk is really skirting around a whole concept that many eigher ignore or marginalize it's importance, and that's Mindset Development. No one is born 'mentally tough'. Developing mental toughness/resilience is acquired by a process of personal and thought process development imo. It's also developed by refining our personal philosophy on how we view some very important factors eg attitude, confidence, fear, personal responsibility, resilience, knowledge, etc. Just my opinion.
     
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  18. Sackie

    Sackie Well-Known Member

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    Wish i could be so lucky as that :D:p
     
  19. willair

    willair Well-Known Member Premium Member

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    Had to get my Dog put down at three in the morning at the all hours Vet at Qld Uni about 7 months ago,then took him home could not even drive the car ,then buried him in the back yard,one of the hardest things I have ever done,and iv'e seen people killed in front of me in a split second on construction sites..
     
  20. Sackie

    Sackie Well-Known Member

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    Really feel for you mate . I had to accompany my dad go through the exact situation not long ago and it's totally heart breaking. .watching him kneel on the ground digging the hole. ..totally heart breaking.