Ordinary Luck

[steeneveld]

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

[Julian]

Great comments Mike. Your posts have provided a good deal of inspiration.
Julian

[Aston]

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.

[JohnL]

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

[fudosan]

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.

[essence]

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.

[Fritz]

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.

[Dean@Massiveaction]

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

[steeneveld]

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

[Dean@Massiveaction]

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.

[Robot]

Exactly Pooomba, this world is action=consequences, not magic fairy dust. A bit of random good timing can occur but calling it luck is not very accurate if you ask me.

[Dean@Massiveaction]

Hi Robot,
Whats up in Tokyo. Property still falling in value??

[Robot]

Yeah prices are still falling and will most likely continue with the population in decline. Bear in mind values are high though, they say that the Emperors Garden (close to Tokyo station) is worth more than Canada.. If you're not looking for capital gains then buying apartments in need of cosmetic work then renting them to foreigners could fetch a good yield.

[Julian]

Dean,

My life is controlled by the decisions I make, the people I love and the God that I serve.

Just wondering, which is your God, and how did you pick him/her from all the Gods to chose from?
How does your God control you, verses you controlling yourself based on your love of your God?
Similarly, how do the people you love control your life?
Julian

[Dean@Massiveaction]

Hi Julian
You misunderstand me. I control my life by choosing who I love and associate with, they don't "control" me. And I choose to give God control of my life. Without wanting to get into a great religious debate there is only one true God, Jesus Christ, in my opinion and personal experience.