What was your biggest failure?

[Bryan Clement]

So, we hear a lot about people's successes on here, and not a lot about people's failures. As just pointed out in the new business podcast, failure is the best way to learn (that whole, what did you fail at today discussion was genius!) Some examples: Michael Jordan missed over 12,000 shots in his career. The all time leader in missed shots? Kobe Bryant. In fact, the entire top ten list for most missed shots in the NBA have all been inductees in the Hall of Fame. The NHL leaders for most wins as a goalie in the regular season and the playoffs? Martin Brodeur and Patrick Roy, respectively. Oh, they also lead the list for the most losses in the regular season and the playoffs, too. Both Hall of Fame players. Given this, I thought it might be important to see if we could hear about some people's mistakes so other's could learn from them. 

I'll go first. Its my first deal, and I've been doing most of the rehabbing myself. I thought that the rehab would go much quicker, and I would be done in a year. Instead, the project is only 3/4 of the way finished, a year and a half in, and I am already over-budget. That's not including the mouse that just chewed through a few major wires and is now forcing half my house to be re-wired, or the water filters and pressure tanks I have to install that I wasn't expecting. I am so far over-budget and out of cash I am entirely expecting this rehab to take another 6 or 7 months. Thankfully it was a live-in! Lesson learned, I need to be much more detailed when I purchase properties, do inspections, and budget to replace old systems and appliances. 

What about anyone else out there?