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It’s certainly an interesting time to be alive isn’t it.  We can now definitely say that nobody really knows what is going on.

In Iran we have an election that is simply being rejected to the point of death.

In the USA we have billion dollar bailouts that haven’t even slowed the carnage down, let alone arrest it.

In England we have corruption issues and the nation is basically bankrupt.

And on the NZ Herald website today the top national news stories are Big Wednesday and Air New Zealand’s cheap airfares.  So at least we have our priorities sorted .

And on the property front things are weirder still.  I’ve had very “ordinary” properties for sale since October without a serious offer suddenly sell at full asking price and at the same time have had a very saleable property not even attract 60% of genuine value.  There is no silver bullet or secret weapon with property in this market.  Utilising your skills to help those wanting to buy or sell is a low risk strategy currently and if you are cashed up then it is a pretty good time to be going shopping.  But anything leveraged is difficult right now because of ongoing uncertainty.

This is also a good time to be working on your own skills, whether that is getting more financially literate so you can analyse deals better, working on your personal development so you are better emotionally equipped for the stresses of property or simply taking stock of your life and ensuring you are spending time on and with the people and things that really matter to you.

This market will change and given enough years everybody will forget about it, but your friends, lovers, memories, children and adventures you only get to live once.

And don’t be afraid to admit your mistakes and change your world view if that is required.  I know I have rethought and readjusted many things in the last 6 months.  Situations, events, failures all come to give us feedback so we can grow.

So whatever “stuff up” is looming large in your mind today remember it is just an event. You will get over it. It is never as bad as it looks.

I’m not quoting meaningless platitudes to you here,  I am sharing with you things I know to be true.  I have days when a head on car accident would be a good solution to a problem, but given time, help and advice, I don’t die.  It does end.  Sometimes it works out way better than I expected.  So I adjust my life to what works.  Let me finish with one example.

As a “new school” property investor I embraced the “never sell” mantra and I could see all the reasons why it was good.  In addition to the “why sell assets that are going up in value” there was also the luxurious thought of being able to say I owned 10, 20 or 30 properties.

I also  remember becoming  quite set in my opposition to “old school” types like Olly Newland and others who taught that it is good to sell down when the time is right and never sell was a bad idea.

So we go through the last 9 months in the New Zealand property market and I now understand why Olly et al said what they do.  It’s because they have been through this before and they are therefore wiser.  Their position has been achieved through the crucible of experience.  And that is something we can do every day.  Learn through our experience.  I now know that owning 50 rental properties is a 2 edged sword.  And I was wrong to bag the old investors whose wisdom is well……. wise!

So don’t waste this opportunity to learn about yourself and reassess your goals, your rules and your life.

People think fresh scars are ugly, but on an old battler they engender honour and respect.
Make sure you become old, don’t check out early.

Stay Inspired and Stay Safe ~ Dean Letfus @ www.MassiveAction.tv

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