10 most commonly made mistakes by 1st time investors

In his excellent book - It's Easy to be a Property Millionaire – Craig Turnbull draws on personal experiences and shares his own triumphs and mistakes with readers to demonstrate the best strategies for successfully creating a million dollar property portfolio.

Following is a summary of what he believes to be the 10 most commonly made faux pas by first-time investors. Avoid these stumbling blocks and you'll have a far better shot at becoming a profitable property investor.

"Never measure the height of a mountain until you have reached the top. Then you will see how low it was." - Dag Hammarskjold 1905-1961, Swedish Statesman, Secretary-General of the United Nations

"Circumstances may cause interruptions and delays, but never lose sight of your goal. Prepare yourself in every way you can by increasing your knowledge and adding to your experience, so that you can make the most of opportunity when it occurs.'" - Mario Andretti Auto Racer

The most important principle

Donald Trump makes billions of dollars from purchasing whole blocks of residential properties and turning them into fantastic complexes.

Top entrepreneurs make billions of dollars buying into troubled companies and turning them into financial powerhouses.

There is a theme here. If you look closely at the strategies of successful investors you will find a strong principle hiding in all their actions. On the other hand, if you look closely at the strategies of struggling investors you will find that they do not understand or use this principle.

So what is this principle and how can you profit from it?

"One of the secrets of success is to refuse to let temporary setbacks defeat us." - Mary Kay 1915-2001, Founder of Mary Kay Cosmetics


"Our greatest weakness lies in giving up. The most certain way to succeed is always to try one more time." - Thomas Edison 1847-1931, Inventor and Entrepreneur

Create that winning feeling by Bob Proctor
I believe we would all agree that having a winning feeling is prerequisite to achieving outstanding results. A person can't possibly expect to win if they're constantly focusing on failure! The real secret here is to capture that winning feeling of success as often as you can to create the environment necessary to succeed.

If you've been a little down in the dumps, feeling insecure or perhaps not feeling as confident in your ability as you'd like, I have a great tip for you.

When insults had class

• "He has all the virtues I dislike and none of the vices I admire."
  - Winston Churchill



• "A modest little person, with much to be modest about."
  - Winston Churchill



• "I have never killed a man, but I have read many obituaries with great pleasure."
  - Clarence Darrow



• "He has never been known to use a word that might send a reader to the dictionary."
  - William Faulkner (about Ernest Hemingway)



• "Poor Faulkner. Does he really think big emotions come from big words?"
  - Ernest Hemingway (about William Faulkner)



• "Thank you for sending me a copy of your book; I'll waste no time reading it."
  - Moses Hadas



• "He can compress the most words into the smallest idea of any man I know."
  - Abraham Lincoln



• "I've had a perfectly wonderful evening. But this wasn't it."
  - Groucho Marx



• "I didn't attend the funeral, but I sent a nice letter saying I approved of it."
  - Mark Twain



• "He has no enemies, but is intensely disliked by his friends."
  - Oscar Wilde



• "I am enclosing two tickets to the first night of my new play, bring a friend ... if you have one." - George Bernard Shaw to Winston Churchill



• "Cannot possibly attend first night, will attend second ... if there is one."
  - Winston Churchill, in reply.




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