LOOK AT WHAT YOU COULD HAVE WON!

In my property career I have a couple of regrets and disappointments over a couple of properties that I didn’t buy.

In fact, I have a folder, with a name inspired by Bullseye’s Jim Bowen, entitled LOOK AT WHAT YOU COULD HAVE WON!

This folder holds sales leaflets or details of around ten properties that I really really wanted, but didn’t end up getting, for a myriad of reasons.

This folder includes:

⁃ the house next door to my childhood home. Why didn’t I buy that?!? It was such a good price at the time! 🤦🏻‍♀️

⁃ An old hairdressers shop that I could have converted, but was too scared to. 🤦🏻‍♀️

⁃ A direct to vendor lead where she was about to be repossessed, in an estate where I have three others houses. 🤦🏻‍♀️

⁃ A really cheap flat next to a lovely church, one which the solicitor made an absolute balls of and caused me to lose the deal. 🤦🏻‍♀️

I occasionally look back in my LOOK AT WHAT YOU COULD HAVE WON folder to reflect on what went wrong with these deals, and what I could have done better.

Reasons, and more importantly, key learnings, include the following:

⁃ Having it drilled into me that every property deal should be an ‘all money out on refinance deal’. This cost me a lot of potentially good deals, because for far too long I believed that you shouldn’t end up leaving any money left in a deal. FOOLISH!

⁃ Faffing about, umming and ahhing, not making a decision quick enough. Success loves speed, and if you sit on the fence too long deciding, you get splinters in your arse!

⁃ Being a little bit too tight with my offers. Some of them eventually went for only 5-10 grand above what I’d offered. I’d have made that back within a year in rental income.

⁃ Hiring absolute garbage solicitors that didn’t know what they were doing. Incompetence on their part, really can, and did, ruin my deal.

⁃ Not knowing exactly what to do in a certain situation and then not asking for help.

⁃ Being too soft in thinking that because I hadn’t done a particular type of refurbishment before, I wouldn’t have been able to do it. I should have said yes anyway, and then learned how to do it on the way!

I’m a very low risk person, and hate being uncertain, not getting things rights, and even worse, the ultimate Yorkshire sin: potentially losing money.

But I have to take responsibility for all these actions – me not getting each of these particular deals is Entirely. My. Fault.

Hey ho, hindsight’s a wonderful thing, isn’t it?!?

Dude, that’s a real bummer #facepalm

Nobody’s perfect, and nobody knows it all. I’m continuously trying to learn.

But if you don’t learn from your mistakes, then making them was futile – because the definition of insanity is doing the same thing over and over, expecting a different result.

Also pain is a much stronger driver than pleasure.

So I keep this folder to remind me of those painful disappointing lessons.

That feeling of regret spurs me on to LOOK AT WHAT YOU COULD HAVE WON! – to avoid doing those same silly things again!

# IF YOU’RE NOT EARNING, YOU’RE LEARNING

# Did anyone ever regret not winning that speedboat in Bullseye?!

Most of us live miles away from the sea!


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Kellyann is a property investment strategist from Leeds. 

In her work she creates wealth for private investors through refurbishing properties. 

Visit her website for more details:

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To learn about 

STARTING OUT IN PROPERTY… What I Wish I’d Known At The Beginning! 

…. buy Kellyann’s book from Amzaon here!

STARTING OUT IN PROPERTY…: What I Wish I’d Known At The Beginning! : Martin, Kellyann: Amazon.co.uk: Books

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