Does fear stop you from taking big risks?

[Gina Stern]

How many investors out there have let fear of losing money, stop them from taking a gamble on a property? Was it justified or did you end up regretting not making an offer?

[Frank Wong]

I think fear is something all investors experience until they are confident with their knowledge, have the experience, and proven and completed 1 deal.  Once they do that the natural feeling is gone.  Fear from that point forward is just mental and getting comfortable.

I think what helps is putting "Fear" into perspective.  Go straight to the worst case scenario. What is the worst case?  You screw up losing all your money, time, and energy you put into it.  OK, do you still have your health and family?  Can't be that bad then.  Failures happen in life, just regroup and try again.  

I don't take big risks in general.  The risk is the first thing on my mind and I always structure my plan around that.  I always go with what's the worst case and work from there.  This way I am confident in the investment.