Investment Burnout

Discussion in 'Investor Psychology & Mindset' started by Hodor, 2nd Aug, 2015.

Join Australia's most dynamic and respected property investment community
  1. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
    lol :D

    But I love the process you have, nice!
     
  2. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,091
    Location:
    Brisbane
    Hehe, really though it is helpful to celebrate the small wins (maybe not with drinking), especially when have been some setbacks along the way (hopefully not with drinking).
    I like your idea of a decent reward for an acquisition. For the little wins it doesn't have to be amazing, but a small dinner out, or something as small as an ice cream, the important part is acknowledging achievement.
     
    Sackie likes this.
  3. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
    Couldn't agree more mate. :cool:

    Personally, I believe its important to see to, protect and reward our emotional well being. Almost everything we do is a result based on some emotion/s, consciously and subconsciously.
     
    Azazel likes this.
  4. legallyblonde

    legallyblonde Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    858
    Location:
    TAS
    To survive exams I was allowed to buy a pair of shoes after each exam I sat! Hehe it gives you something to look forward to!
     
    Azazel and Sackie like this.
  5. Gockie

    Gockie Life is good ☺️ Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    14,738
    Location:
    Sydney
    For me, a celebration of seafood for a house purchase, or a pack of tim tams for a more involved airbnb changeover
     
    rajorich and Azazel like this.
  6. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,091
    Location:
    Brisbane
    Wow, that's pretty good. How many exams are we talking about here?
     
  7. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
    haha I can imagine. And some hot pot?? :D
     
  8. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,626
    Location:
    At work
    I've got it now.
     
  9. Gockie

    Gockie Life is good ☺️ Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    14,738
    Location:
    Sydney
    Ps. I discovered sashmi grade scallops (raw) are really not to my taste...
     
  10. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
    :eek::eek:
     
  11. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    13,439
    Location:
    Melbourne
    Yep - we celebrate, usually by buying another property...........(then curse the late nights getting it ready for tenants)

    The Y-man
     
    Azazel and Sackie like this.
  12. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,091
    Location:
    Brisbane
    Haha, that's the way to simultaneously celebrate - and come back to reality!
     
  13. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
    Interestingly enough, I have found that buying an IP doesn't have a 'buzz' for me as it used to do years ago. There is no thrill anymore. Its like, ok, got another one, big deal. Now I find I really need bigger deals, more exciting with larger profit potential to get me excited. I know some people have the motto of 'slow and steady wins the rewards' but that doesn't do it for me anymore. Of course I am very pleased with the longer term benefits of holding the stock and I wouldn't just jump into a stupid deal for excitability, but I find Its also important for me that each deal does have some short-term excitability for me, whether its ability to manufacture immediate equity or DA potential or cosmetic, whatever it may be. I get tremendous enjoyment not only from the long term monetary gains of a deal, but also from the negotiating and wheeling and dealing of the acquisition to see just how great a deal I may be able to construct. I wanna have a hell of a lot of fun in the process of all this. I know others may think that's stupidity. That's fine. Each to their own.
     
    fols, teg499, jins13 and 1 other person like this.
  14. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,091
    Location:
    Brisbane
    @Leo2413
    This reminds me of something I was just reading in the new API this morning:
    "I see it a lot more now." he adds, "where a lot of investors want to get their kicks out of property, and I certainly fell for that.
    "Now I say that if you want adrenaline, go sky diving or bungee jumping or deep sea diving or something, because investing should really be predictable and reasonably boring.
    "People want to see it as a form of adrenalin... and therefore are willing to take unreasonable risks whereas the slow, proven path would serve them better."

    He's not the 1st person to say it, it just came to mind.
    In some ways it's true, but you're right, everyone is different, and there's nothing wrong with wanting it to be a bit exciting.
     
    jins13 and Sackie like this.
  15. legallyblonde

    legallyblonde Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    858
    Location:
    TAS
    My degree was five years full time (completed in 6.5)... But I didn't start until my second year of exams (they were far more demanding than first year) and I managed to rein in my spending towards the end of my degree as I had a reduced workload... Luckily it wasn't too bad... I love a sale so they were all less than $50. I am just grateful that I do not live in my beloved Melbourne.. That could have been a dangerous spending habit! All up it was not too bad... A girl needs 30+ dress shoes right? Especially ones that are so pretty and impractical that they do not get worn? If I get a grad job and move (to a one bedder) I am not going to take them all with me...

    Edit: P.S. I dare not count the number of any item in my wardrobe... That is dangerous!!! I discovered recently... After a wardrobe clean out that I own over 50 dresses... I learnt my lesson!
     
  16. sammmeee

    sammmeee Well-Known Member

    Joined:
    16th Jul, 2015
    Posts:
    72
    Location:
    perth
    I am very excited and motivated when I'm on the chase for a new property almost obsessive. It's intrinsic and can't be helped BUT

    after years of no holidays...annual leave used for renoing properties...weekends without sleep painting houses top to bottom .. Self managing (I'm a control freak)
    All with 3 young kids who are very good with a paint brush. Crap cars ect ect
    last week we put in a pool ... A reward for the hard work and sacrifices.

    Then 2 days before the pool went in we bought another IP.., suckers for punishment but at least after this iP is renod we can drink by the pool
     
    WattleIdo, JenW and Azazel like this.
  17. trinity168

    trinity168 Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    942
    Location:
    Sydney
    @Gockie, at the fish markets, they have those scallops that they torch, with cheese, a bit of rice and roe on top. YUM.
     
    JenW and Gockie like this.
  18. Gockie

    Gockie Life is good ☺️ Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    14,738
    Location:
    Sydney
    That really does sound good.... maybe next time!
     
  19. Ace in the Hole

    Ace in the Hole Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,872
    Location:
    Sydney
    I feel exactly the same way, for resi anyway.
    No more resi for me as there just no excitement factor, unless it's a nice PPOR upgrade.
    Don't know what the next move is yet, but it will either be a decent sized development or decent commercial property 4-5m for cash flow.
     
  20. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
    @Ace in the Hole What size resi development would you be interested in now?