The question that I am talking about is simply this: “Have you ever lost money in any of the investments that you have been involved in?”
It’s a question that more investors need to be asking. It is also what I consider “The Question” that when answered will tell you a lot about with respect to who you are thinking of investing your money with, what you are considering investing in and even dealing with a mentor/coach.
When the person you are considering having an investment relationship with whether it be an individual, company, etc. answers this one question it will tell you a lot.
And it’s pretty simple to derive the necessary information you need from their answer as well because if their answer
ANSWER #1 – “NO” – then you need to run away from this investment or the person working on the investment. A NO answer
either tells you one of two things:
- They are lying – simple as that …..OR….
- They do not have enough experience.
Anyone that makes investing in investment real estate (stocks, bonds, mutual funds, any other investment for that matter) their primary business HAS had investment losses because not EVERY investment works out.
It is impossible for every investment to work out. Even those investors considered the BEST at what they do and are very well known KNOW this to be the case and they have all lost money on something. Even those “sure things.”
A very high percentage of all of the investment real estate properties I have been involved in have worked out very well but I also admit that I have had some stinkers too! Some stinkers that lost money and a few that lost more money than I would care to admit.
But facts are facts and as they say, THOSE ARE THE FACTS.
So, my answer to the question of “Have You Lost Money In Any Of Your Investments” is an absolute – YES I have.
When you begin relationship with someone, especially an investment relationship everything needs to be transparent or everyone is wasting their time. If the relationship is not transparent and all of the facts are not discussed then this spells trouble with a capital “T”.
Things generally work out fine the majority of the time for sure but nothing is guaranteed. We are all smart enough to know this but how many of us really look into this? Ask the question?
You see I am always happy to discuss, PERSONALLY, the investment projects that I mention to you from time to time that I recommend and all of what you can expect but I am also always open to talk about the ones that just did not work out because the best way to have a great (but not perfect) track record is to learn from the bad experiences and lessons so they are not repeated.
Even in this economy!