"Newbie" Asking for Help - Paralyzed with Fear

[Christine Humphrey]

Hi BP, 

You know how they ask at the end of each podcast "What do you believe sets apart successful real estate investors from all those who give up, fail, or never get started?" --- well, I have been in the "never get started" bucket for YEARS and am angry with myself. My partner Matt and I have big dreams and goals for our future, so we decided that he would focus on the stock market and I would focus on real estate for our investments. Divide and conquer. I have been to a few seminars about REI, I have listened to the BP podcast, and we've been paying for PRO for 2 years now (his BP profile is Pro)...and I have nothing to show for it. The stress that I have added to our relationship because of my lack of action is driving us apart and putting unnecessary pressure on us.

I am paralyzed by fear that I will screw something up and lose the money that we have worked so hard to save over the last 5 years. I believe a lot of this fear stems from 2008 when my family, who was involved in REI at the time, lost it all in the crash. I know that I have much better tools available than they did to make smarter decisions when it comes to buying a property, but it still doesn't stop the anxiety of the "what if's" from creeping in and ultimately freezing me up. I will think about analyzing a property to learn the tools but stop partway because I don't know some information. I will be talking with Matt about REI and I will be on the verge of a panic attack.

This must be the year that this changes. I have already set us back multiple years, missed out on multiple chances for a deal, and have missed out on so many connections over the years that could have catapulted us years ahead of our goals. It's up to me to change, move past this fear, and ultimately buy a property this year that will prove to myself that I can do this. 

For those that can relate and DID finally overcome and buy a property, what did you do that helped you move through each step of the process to your first investment? And how did you overcome your own anxiety/fears about REI that were holding you back?

Thank you for reading this long post and double thank you for sharing your thoughts in the comments. 

~Christine~

TL;DR - paralyzed with anxiety about losing money in bad deals. How did you overcome and conquer those fears to eventually buy a property?

[Joseph Crunkilton]

@Christine Humphrey

The first step is the hardest one. It's also the most beneficial. The fear of the unknown is powerful and we've all felt what you're feeling to some extent. 

When I first started out, I was overwhelmed, and concerned for my money. I saw all these costs, flipping, brrrr, etc. All I could think about was what could go wrong. 

This led me to @Zach Lemaster over at Rent to Retirement. They provide high quality, turnkey rentals in markets that appreciate and provide cash flow. I wanted a safe, affordable investment for my first deal. The process was easy and now I have a cash flowing rental and am excited to buy more. 

Getting that first deal will give you the confidence to move towards your goals. If you want a safe investment with good returns, check them out. 

PM me if you have any questions! Good luck.