What Is Holding You Back From Your Dream?

August 24, 2010 in Getting Started, Investing In Real Estate

 

Getting Started 

Let’s face it. Whenever we are starting anything new, there is a tendency to drag our feet in the beginning. Taking those fist steps are always the hardest. I have come to the conclusion that there are a couple of things contribute to this dilemma.

The first thing is a lack of confidence. It is so easy to focus solely on what we “don’t know”.  The second is information overload.  If you can get a grip on these two things you will be able to move forward. You also need to take that great big “elephant” of a goal, and break it down into bite sized pieces that turn into manageable tasks.

 

Lack of Confidence

I believe that lack of confidence comes primarily from lack of education. There are so many ways to get the education that you need and many of them are free. You can find an endless supply books and tapes at the book stores and the public library. Dive into those and try to get a feel for the types of real estate investing that appeal to you. Join your local REIA group (Real Estate Investing Association). You can find one of these groups in almost all major cities and most all of them hold regular monthly meetings. Not only do these groups provide endless educational opportunities, but you can benefit from the experience of the members. You will find that these folks will be happy to mentor you and help you succeed.

One of my favorite sources for staying on top of what’s going on in the world of real estate investing is blogs. There are so many great blogs out there and many of them are written by people just like you and me that are chronicling their journey as a real estate investor. You will find folks with all levels of experience so don’t be afraid to comment and ask questions as you read the posts.  I will be adding a list of my favorite real estate blogs on my site in the near future so be sure to check back.

 

Information Overload 

We all find ourselves deep in information overload at one time or another. But this is a particularly troublesome problem for a new real estate investor. Each time a “shiny new product or course” comes along, we begin to question the path we have chosen for this “new, proven, money making strategy”.

Don’t make the mistake of jumping from one thing to another. Pick one investing strategy or “niche” that excites you and master that one. Once you have done that, it will be much easier to add additional strategies. It’s very important for real estate investors to eventually have multiple “exit strategies” when buying investment property, but you don’t need to worry about that initially. Pick one thing and learn to do it well before moving on to another and success will be yours!