Getting over fears of the First Deal?

[Porter Linton Anderson]

I have been reading forums and listening to the podcast for a good while now and am super excited to say after working and really pushing to make the vision I had when I first started learning, I currently have my first deal under contract! It is a nice group of brick buildings totaling 8 units.

Since we have gotten an offer accepted we have gone through the regular steps of getting different financials from the seller and the different pieces of the due diligence process. The numbers still indicate that we will have a great deal on our hands but there is always that small fear of an unknown issue. After the initial excitement of getting closer to a first deal I started to get nervous about the possibility of something going wrong.

I would love to know different thoughts people have about getting over nerves at this stage? I’m sure many BP members have been in this stage and have felt the nervousness of the unknown that lies before you on your investment path. I’d love to hear what others have done to keep their original motivation and get over the nerves that come with investing. Thanks!

[Chris Coleman]

@Porter Linton Anderson

Re-analyze your numbers...again and again if needed. Every time you analyze the numbers, you should see that projected return. That should make your more and more confident. Stress test it, run it more conservatively, and hopefully still be confident in your return.

Assuming you followed your investment rules, then go back over your investment criteria, and re-confirm to yourself that the deal meets your criteria.

I find that the more I go back over my homework, know that I’ve rigorously followed my investment criteria, and keep seeing the same positive results, the more confident I become in my decision.