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1. Choosing the wrong transaction

2. Not conducting proper research

3. Listening to real estate agents hype about future and

unrealistic selling prices

4. Targeting the wrong purchasers

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5. Targeting the wrong real estate product

6. Pricing the product incorrectly

7. By not presenting the real estate product in its best

light

8. Choosing the wrong agent, there are buyers agents

and there are sellers agents, and remember that

agents are always right, even when they are wrong

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9. Thinking they can change the market

10. Overestimating the numbers and the speed at which a

transaction can be done

11. Not managing their cash flow

12. Not arranging cash reserves for the future battles

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13. Not taking the time to create supportive relationships with

the real estate agents, the lenders, solicitors and their team

14. Trying to do everything themselves by being a lone wolf

15. Failing to have an intention to get their house in order to

grow their real estate business so they can become free

16. Continuing to do what they have always done expecting a

different result

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17. Keeping underperforming real estate on the hope it will

perform

18. Not having a strategy for trading residential and buy and

hold commercial

19. By not understanding adding value and leveraging that

increased value.

20. Being driven by fear and not guided by their heart

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21. Playing lose/win, win/lose or lose/lose as opposed to

playing win/win

22. Being attached to the outcome and paying too much,

remember one hundred fish to get one

23. Becoming overconfident and complacent with their

feasibilities

24. Forgetting to add value and leverage it. Paying too much

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25. Over exposing themselves to the market with product and

loan repayments

26. Forgetting that terms are more important than the purchase

price

27. Forgetting that the profit is made at the time of purchase

28. Over capitalising their investments

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29. By not understanding their burn rate, the amount of money

they are going through to maintain their position

30. The biggest single reason, trying to do everything

themselves and being emotionally unfit, going into reaction

mode rather than being proactive

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Bonus Rules

1. Your goal is to deliver the most value to your purchaser at a price that is both affordable for your purchaser and profitable to you

2. Rarely is the real estate transaction the reason for success. In reality it is the execution of the real estate transaction that is the primary driver of the success

3. The real estate business is about sowing and reaping. You must remember to always sow and never forget to reap and ensure you get it in the right order

4. You will have some learning experiences and make sure you do learn from them

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5. Reinvent yourself every ninety days

6. Remember you are your communication, George Bernard Shaw said,1. Tell them what you are going to tell them.

2. Tell them

3. Tell them what you just told them

7. Manage your time and maximise your performance

8. Manage your weaknesses and maximise your strengths

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