What’s Your Worst Deal EVER?

[Tyler Jahnke]

Hey BP!

One of the biggest draws of this site is the positive and helpful community that I’m now emmersed in. We all see so many amazing success stories of people starting with nothing who are now “financially free.”

But, I guarantee you, it took some bumps in the road to get there. So, I thought I’d change it up a little. Not to create a negative vibe or anything, but to show transparency and humility. It’s not always rainbows and unicorns.

Can you describe in detail your worst deal or investment ever?

Now, after you answer that question, what I REALLY want to get at is: HOW DID YOU BOUNCE BACK?

Thanks all! Have a great day!

-Tyler

[Brian Burke]

@Tyler Jahnke I wrote about mine on the BP blog. You can find it here:  https://www.biggerpockets.com/renewsblog/colossal-fail/

What could have seemed like the beginning of the end instead made me a much better investor and set up my business for success beyond anything I could have imagined. 

I often think that the most dangerous investors are the ones that haven’t ever lost money and I sometimes say that if you haven’t lost money it’s just because you haven’t been doing this long enough or haven’t done enough deals. I’ve done over 700 deals in my nearly 30 years and I’ve come to accept the fact that even the best-laid plans don’t always work out as expected. Our job is to minimize the possibility of an adverse outcome, mitigate risk to the extent possible and when the inevitable happens, make sound decisions to produce the best result you can.