When you got started, what was the most difficult thing to you about this business?

[Geoffrey Murphy]

Hey Guys,

Im just starting out in in my RE life as an investor. However, Im sure we all run into to obstacles when it comes to this business, it's just apart of life. Some days you feel a little bummed out but because you love this so much you continue to push.

As a new investor one of the most difficult things I run into is feeling confused at times. I get the feeling of not knowing what to do next?

Do any of you have that feeling when you first got started? and if so, how did you over that obstacle?

[Bryan Hancock]

The most difficult thing I have found is getting access to enough capital. I think that is the constraining factor for most people and what holds businesses back until they can get over the hump. A solid track record attracts capital, but you need more capital to build said solid track record. Getting from smaller deals to larger CRE deals is a whole new hump to get over and it takes persistence!

Real estate also requires one to be familiar with A LOT of different fields. Taxation, finance, property codes/laws, securities laws, contract law, etc. It is really daunting when you first get started and there is no shortcut to success. You have to put in the time and learn what you need to know.

Another big issue is that real estate has more than its fair share of charlatans and quacks wishing to part you from your money. Since there is so much to learn it is a fertile ground for unsavory folks to take advantage of newbies. I find myself mistrustful in almost all situations. I am highly skeptical of any scheme that seems aggressive. Those schemes are normally coupled with the unsavory folks trying to part you from your money.

Ironically reputable folks like CPAs and attorneys are not immune from trying to take advantage of new folks. They want to sell you pricey services that you really don't need when you first get started. Resist the urge to get too big too fast. Crawl before you walk and walk before you run. It is a marathon and not a sprint.