Newbie in Los Angeles and Terrified but Moving Forward

[Jay Williams]

Super green and hoped to hear some tips, advice and/or suggestions from those who were once in my shoes. I have virtually no experience but am extremely resourceful and motivated. Fearful of making a mistake that will be devastating to me and my family and I know that if I don't take risks, I may not get rewarded in this business. I'm interested in small, multi family properties, no/low money down. I've been watching and studying Brandon Turner to truly understand how to underwrite deals, funnel leads, and now ready to take the next step! Happy to be here and please review my profile and reach out to me if there's an opportunity to partner with you!

[Greg Scott]

Jay:

Welcome to real estate.  I loved the title of your post.

I was terrified the first single family rental we bought.   I was terrified the first small apartment we bought.  Now we are under contract of a large apartment.   Same feelings again.  The key is keep pushing forward while avoiding basic mistakes.

Use your fear to your advantage.  Without getting stuck in analysis paralysis, try to poke holes in all those irrational fears.  If you are worried about the area, check crimes stats, read local news articles, check housing values, drive the area on Google, anything that will allay those fears.   Again, don't let it derail you, just let it push you to make you smarter about the deal.

Also, it helps if you get around good people who have experience.  It is invaluable to be able to have a 1:1 conversation (not written communication) if you hit a real scary point on a deal.

Good luck and congrats!