Key to newbie success! Do it and Succeed! Don't and you won't! (very long - dont say i didnt warn you!) - Posted by Mike Oldfield

Posted by chris on May 14, 1999 at 01:04:02:

Keep reading & never stop , but the best teacher is experience – can’t argue w/that. … Matthew , you’re gonna love my next post .

Key to newbie success! Do it and Succeed! Don’t and you won’t! (very long - dont say i didnt warn you!) - Posted by Mike Oldfield

Posted by Mike Oldfield on May 13, 1999 at 22:59:13:

Learn to think for yourselves

I love ya newbies but I have learned something about you.

Many (not all) newbies read a book or two and then want in to the game. This will never work in my not-so-humble opinion. Nearly all of the most successful investors out there have read and read and read and tried and tried and tried to apply these techniques out in the field and succeeded in a very real and big way.

Over and over i see newbies make a feeble attempt to apply a technique in the field after having read one or two books and then they run into a roadblock and run right back here to have someone else solve the problem for them. Here is your newbie problem …


You must learn to think for yourself. To often a newbie askes a question which they could answer themselves if they would just take the time to think it through. With all the time a wastin’ running back here for the simplest problem you dont get the deals done and see no results.

My own personal experience is that I learned a lot more while I was doing deals than when I was reading a book. This is because I would run into circumstances that where unusual and would have to invent a solution that isnt covered in the books and courses. You must do the same.


Some questions or solutions you must figure out ON YOUR OWN Think newbies think. Think for yourselves. When you come across a roadblaock invent your own solution. If you never go through the problem solvong routine you will never learn how to do it.

Please consider these thoughts carefully. I wouldnt take the time to type all this in if i didnt think it would help. And remember one more thing. I WAS ONCE A NEWBIE TOO!

And yes newbies with doubt. The strategies from most gurus mostly work rather well. Some much better than others. There are ideas out there that are lousy. Others are excellent.

Some of the questions which go unanswered on this site are not answered because they are so pathetically basic that it isnt any fun for an experienced investor to answer them. I feel that the questioner is offensively lazy because they have not done ANYTHING TO HELP THEMSELVES. I find it difficult to get interested in helping these lazies.

Dont’ get me wrong. I will always be available to any newbie sincerely trying to apply the techniques discussed here. My commitment to teaching others this most wonderful business will never end. I have have enjoyed great fortune from the guidence of others. I feel a strong obligation to give back, share, carry on, and add to this body of knowledge. I feel obligated to help committed serious newbies. My good fortune requires it!

Some will be angry at me for writing this and I expect a certain amount of sarcastic know it all venting or hate mail so let me try to nip that in the bud here. If you are offended by my comments you either do not understand my perspective or the purpose of this post or you are a lazy fool who wants someone else to do it for you. Bring it on if you must. Hopefully the people I wrote this for will appreciate the time it took to write this post. And the others will not bother to send me there whiney or arrogant feedback.

Best of Luck to you all,

Mike Oldfield

Re: Key to newbie success! Do it and Succeed! Don’t and you won’t! (very long - dont say i didnt warn you!) - Posted by KC

Posted by KC on May 15, 1999 at 24:00:29:

This is great advice and a thoughtful, tough and caring way to support…The best lessons and retained knowledge is the knowledge obtained with ones own inituitive and experience…thanks again Mike

Re: Key to newbie success! Take responsibility! - Posted by Matthew Chan

Posted by Matthew Chan on May 14, 1999 at 24:47:09:

Well said. I like to participate in various newsgroups (besides the CREOnline one’s) to the degree I can offer something constructive. But, like you, I do tend to simply pull back when you sense that someone is simply not taking responsibility for their own circumstances.

As a last comment, having travelled to almost 20 cities around the U.S. during the last 6 years, I can tell everyone there are certain cultural and economic differences here and there but overall they all have houses and real estate. If YOU find that the information doesn’t work in your city, it probably won’t work at another city either if YOU went to another. I hope that helps in answering the “Does it work in (your city name here)?” type questions.