Horror Stories And Overcoming Fear

[Jason E.]

Ok so I want to get into real estate investing. But I have heard so many horror stories. I don't have a lot of money and my current cash flow is very low. But I thought I could save up enough money to cover a few months worth of a house note. I thought about buying a house through owner financing since my credit isn't the best right now. Then I wanted to rent the house out to make a profit.

Like I said, I planned to have a few months worth of the house note saved up. But what happens if I can not get paying tenants in that time? What if the plumbing needs to be redone? What if the tenants destroy the house? What if I end up in the money pit? What if I buy the house thinking I can get the profit in rent and the amount people will pay in rent goes down over time?

These are my fears and I have heard many others who tell horror stories about this. So my thought becomes "If I had the money I would buy a house and make money with it." But then another thought says that one doesn't make sense "If I had the money already why would I need to make money with another house?"

So can you help me? Are my fears keeping me safe of keeping me from something that could be very good?

[Marcus Isaac]

Hey Jason,

If you want to do something learn how to do it, and then just do it. If you know how to buy a house, calculate cash flow properly, and at least look for a tenant then you know most of what what you need to know. Don't let if "what if" stop you. It is a lot easier to think of solutions when you are actually faced with a problem.

Just think positive and don't be afraid to pull the trigger if an opportunity presents itself, because that's the only true way to learn.