Description

In this episode, Shane talks about a lesson he learned from an investing mistake and how he was so focused on the results and outcome and not on the details of the deal. He also shares his action plans to get the deal back on track and other tips so we as investors can avoid these mistakes and learn how to deal with them in the future.

[00:01 - 02:47] Dealing with Bad Decisions on a Deal

• Taking a step back and asking help to get a better insight on the situation
• Detaching from your emotions and focusing on the facts
• Pain plus reflection = progress

[02:48 - 11:40] Action Plans and Steps We Can Learn From

• Looking back at the paper trails of the deal to see what was missed out
• Going to the partners and investors about the problem and providing solutions
• Asking the right questions before diving into a deal 
• Don't be to focused on the outcome 
• Ask for help

[11:41 - 12:55] Closing Segment

If you are interested in my coaching and consulting program, please email me at shane@shanemelanson.com. I want to make sure to cater to those interested, so please use the word "coaching" on the body or subject line.

You can also follow me on Linkedin and Twitter. If you want to go even deeper into the world of commercial real estate, head over to Shane Melanson, a roadmap to investing in commercial real estate! Get my book Club Syndication - How The Wealthy Invest Their Money.

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Tweetable Quote:

"Because I was too optimistic, I was constantly looking for a way to make this deal work, and I didn't ask the right question." - Shane Melanson