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Thread: Ordinary Luck

  1. #1
    Join Date
    Jan 2005
    Location
    Auckland
    Posts
    22

    Default Ordinary Luck

    A friend and I have been discussing the concept of 'Ordinary Luck' refered to the the book 'Ordinary Millionares'. We have both been described as lucky or even felt lucky at times in our property dealings. But after a while of repeating this luck over and over again we began to discount luck.

    I have just read 'Ordinary Millionares' (highly recommended) where one of the key points in common of successful property investors was 'luck'. This analysis came down to the concept that 'ordinary luck' is all around us, but only some people are looking for it; are ready to take advantage of it; and do not hesitate to do so.

    This seems to make a lot of sense. My friend always find parking spaces near where he wants to go. I don't. Why? I've stopped looking for them and just drive into a parking building. He just expects to find one. And normally does, when he fails, he considers it just an exception and he keeps looking next time. I can't get lucky because I don't look. (mmm.. wonder if this applying to meeting women too?)

    I get great property deals because I expect to find them. So I get lucky on a regular basis. Less experienced investors don't expect to find great deals and so settle for less, consequently they are not out looking for the better deals that 'ordinary luck' will provide from time to time.

    I thought this concept might be of use to people as we go into the down cycle where great deals will be plentiful.

    Mike
    Anybody can... not everybody will

  2. #2
    Join Date
    Jan 2005
    Location
    Auckland
    Posts
    1,530

    Default

    Great comments Mike. Your posts have provided a good deal of inspiration.
    Julian
    Gimme $20k. You will receive some well packaged generic advice that will put you on the road to riches beyond your wildest dreams ...yeah right!

  3. #3
    Join Date
    Jul 2005
    Location
    NZ
    Posts
    976

    Default

    I've just found this site and wish I'd found it long ago.

    It's certainly not luck... it's your belief system. I always find car parks also because I expect to find them, many people can't believe my "luck" because they can never find them and expect not to.

    However I never seem to be able to find good deals on property. I think if it's such a good deal why hasn't somebody else bought it. I'm working on my belief system there.

    I've been out of property for a while and just about to get back into it, this time a little more educated than before. This site is proving invaluable for me. Hope to meet up with some of you people one day. I'm currently overseas and returning soon.

    Aston.

  4. #4
    Join Date
    Feb 2004
    Location
    North Waikato
    Posts
    651

    Default

    This topic comes through very strongly in Robyn's story as well. If you believe it will happen, it does.

    Whatever you believe in will happen. If you believe there are no good deals during the boom period, then guess what you find. No good deals.


    John

  5. #5
    Join Date
    Jun 2004
    Location
    Auckland
    Posts
    2,103

    Default

    Hi Aston

    A warm welcome

    Can anybody give me some constructive. advice. I'm in the Wellington area.
    It's right here, on your finertips. Just need a cup of coffee and a little time to read through all the posts.

  6. #6
    Join Date
    May 2004
    Location
    Bay Of Plenty, NZ
    Posts
    3,604

    Default

    Hi Aston

    Welcome to PT.

    A few of the Wellington PT posters are having a get together.

    Rushes, Pauatahanui, 10am, Wednesday 27th July.
    Come along and meet some of the crowd.

  7. #7
    Join Date
    Feb 2005
    Posts
    261

    Default lucky

    I prefer the word fortunate. Luck implies chance. I find that the more I learn and the more I believe in where I am going to be my reality the more fortunate ('luckier') I get, wether this be money, property, life or friendships.

    Great post.

    Fritz.

  8. #8
    Join Date
    Jun 2005
    Location
    auckland New Zealand
    Posts
    5,236

    Default

    At the risk of swimming aganst popular opinion I think this is a load of old tripe. To succeed in investing takes work. Luck has NOTHING to do with it. If you put in the effort you WILL get the results. The people who can't find deasl aer unwilling to put the hours in to put in enough offers, to learn how to negotiate etc. Sure some people stumble across unbelievable deals, but anyone can find great deasl every day if they put the effort in. There is a direct relationship between effort and reward in investing. IF you're looking for shortcuts either get a mentor or buy a lotto ticket
    From what I know of myself and guys like Chris, Ron, Keiran and Graeme and other successful investors here I don't see posts from any of them talking about how litle work they did or how lucky they were. They all, like me, put hours and hours and hours of effort in to create their "luck" if you want to call it that, and achieved as a result of theri HARD WORK

  9. #9
    Join Date
    Jan 2005
    Location
    Auckland
    Posts
    22

    Default

    anyone can find great deals every day if they put the effort in
    This is precisely the point Dean. The concept is about 'ordinary luck' being there every day if you are ready to take advantage of it. That's where all the hard work comes in, being ready for the luck and open to it. Its not about being lucky.

    What's the quote? luck = when opportunity meets preparation.

    The hardest learning curve I've been through was learning to turn down good deals in order not to miss the great deals. So many times I've advised people that there are better deals out there, but they just take the okay deals because they don't believe they can find better. We've even read it in these forums -"you can't get +ve cash flow deals in Auckland any more" and yet we know that's not true.

    'Ordinary luck' is just the idea that 'you make your own luck' by gaining experience, being prepared, having goals and a plan to achieve them. Then when the 'lucky break' arrives you are able to seize it without hesitation.

    Mike
    Anybody can... not everybody will

  10. #10
    Join Date
    Jun 2005
    Location
    auckland New Zealand
    Posts
    5,236

    Default

    Still nothing to do with luck. I don't believe in luck. My life is controlled by the decisions I make, the people I love and the God that I serve.


 

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