Right mix of investors

Discussion in 'Investor Psychology' started by Leo2413, 29th Mar, 2016.

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  1. Leo2413

    Leo2413 Well-Known Member Premium Member

    18th Jun, 2015
    A little long post so if your not interested to read something soft, quit while your ahead.

    So usually every 4 months or so we invite our finance broker, conveyancer and one or two of our good friends who also heavily invest in real estate over for dinner and drinks to catch up and invariably, talk about property for hours. I remember at the time of this particular conversation, it was probably around 2 years ago now, that I was having with my FB discussing areas to invest in, returns, potential opportunities etc and there were 3 or 4 suburbs that met my criteria and I was having a very hard time to decide which one I should go with as I could only buy in 1 suburb. Nearing the end of the night as everyone was leaving, last to leave was my conveyancer and she made a leaving comment to me about a particular suburb that was not on my radar at all. Probably because it was slightly off in terms of my buying criteria so I didn't look at it much. I don't know why she didn't bring it up in the conversation earlier..probably because she was so engrossed in another convo with my other friend. Anyway, once she put that place on the map for me, I did thorough DD on it and it actually impressed me quite a bit, so I bought in that suburb.

    Without getting into the number details (because that's not the point of this thread) the place has done exceptionally well, and I would say better than the other 3 suburbs I was looking at. Not by a lot, but enough to give me that edge I was looking for.

    Associating with the 'right mix of investors' often enough can literally translate into great deals and wealth created. In essence, this is what the forum is to me. It's an outlet to network and build friendships/relationships with other successful like minded investors who have a wealth of experience, knowledge and on the ground current information across many markets and who can share great insights and highlight areas/opportunities that could lead to great outcomes.

    For me, (just with regards to building wealth) I feel that over the last 14 or so years, the factor that probably had one of the biggest imapacts that touched almost every area of my investing (both in a positive and negative way) was the company that I chose to surround myself with, and even more importantly, the company I decided was not for me.

    Just my experience so far on this roller coaster journey.
  2. Bran

    Bran Well-Known Member

    20th Jun, 2015
    At work
    I had a similar experience with an early meet up with @Steven Ryan and his Moorooka. As a consequence, I went very hard on a property that I didn't quite secure. But if I had pulled it off - and I learned a lot about negotiating, it would have been the deal of the century.
    bob shovel, York and Leo2413 like this.
  3. Omnidragon

    Omnidragon Well-Known Member

    17th Oct, 2015
    Hmm don't feel same way. I'd say more have gotten ideas off me than I've ever gotten an idea off someone.