Time Wasters: Lurking & Never Getting Started – Never Buying

[Account Closed]

Starting out in Real Estate Investing can be a scary thing. If you make the wrong move, the world blows up and billions of people die.

Well, okay it may seem that way, but I assure you, the worst mistakes can be avoided and if they do happen, the solutions are pretty straight forward. Just get a mentor/coach/teacher doing what you want to do and proceed.

Here are some of the unreasonable "reasons" (excuses people use) for never starting investing

1. Analysis / Paralysis – I’m trying to figure out . . .
1. This is a numbers, process and decisions game, You analyze by making offers On Properties to Sellers – otherwise your “analysis” is meaningless
2. And yet, here we are all, that time later and you still haven’t figured it out
3. How can you analyze jello that is nailed to a wall?
4. This isn’t an abstract painting at the museum, go there to “analyze”
5. Work with a mentor/coach/trainer who can help you “analyze” to your hearts content but moves you forward to actually buying properties.
2. I don’t know any thing
1. That’s actually a good reason to start, you learn by doing
3. I don’t know what kind of investing I want to do
1. Start with single family homes and learn the industry
2. If you decide to wholesale, just be aware it has a very high failure rate. Training is lacking, it takes a lot of talking to people you’ve never met and takes months to the first deal if you ever get one. Most people put a lot of time running in circles with nothing to show for it.
4. I don’t know where to invest
1. Okay, first pick a neighborhood near you.
2. If that is too expensive choose from Columbus, Indianapolis, Charlotte, Atlanta, Dallas because they are generally well run cities experiencing growth and a stable workforce. That cuts down on a lot of problems.
3. More experienced investors and investors with coaches can navigate the ups and downs of Memphis, St Louis and Detroit but they are not for newbies going solo.
5. I’m afraid of failing.
1. Sign up with a mentor/coach/trainer
2. Do Joint Ventures with an experienced investor until you understand the business
3. Work for someone in the industry until you know what you are doing

[Bruce Lynn]

%100....  and learn by doing....you can save a lot of guru money this way and at the end you still have a piece of real estate....vs book and maybe a workbook and no real estate.

You can reduce 70% of the risk with education....every investor I know has stories about how they'll never do that again, but they tried.  Tried Section 8, tried AirBNB, tried flipping, tried MTR and on and on, but they keep moving forward.  Not every deal is a home run.   Some are experience builders.