Fear. Starting out before your first deal

[Account Closed]

I have no statistic on how many newbies are here.  I know there are a LOT.

I see many people come here, make statements about what they want and desire, then go away and never come back.

Why?  Fear, I believe.  I'm pretty sure about that.  If this game were easy, everybody would do it.

I'm actively investing now in real estate. I own my own home, have flipped one house and am imminently closing (should be this coming week on both if the stars align correctly) on the next two (one rental and one flip). I've also got a 110% offer out on another REO property that I'm hoping to get for a flip.

So, though I am repeating a flip, this in-the-bag flip is a bigger flip (more work; more unknowns).  It was also 12K more than the last flip in terms of purchase price.

The rental was cheap.  Not much wrong with it.  However, the rental is an entirely different business than flipping.  More unknowns.

Both of these are scaring the scrap out of me; in a different way than doing my first deal did.

The fear does not ever go away, evidently.  Or, it will take many deals.   I still feel like a newbie (indeed, I still am). 

The more I learn (and am learning), I feel like there's that much more (and more beyond that) to know.

I felt the same way 16 years ago when I got into computers.  I started learning; a lot.  The more I learned, the more I felt there was to learn.  I kept my head down and studied (while having a computer job) for almost 5 years straight; hours every night.  I FINALLY crossed a threshold where I felt like I had learned enough to feel "comfortable"; to where there was no fear any longer.  (The reason I did this was because of something Tony Robbins said; that is, if you improve in your career field by studying every night, within one year you will be in the top 10% of your field.  I took him at his word.  I am not sure if that's true or not, but I do feel  at or close to the top of my game now in my computer career.  I'm taking it on faith that I will do this with real estate as well.  The methodology will be no different (study my butt off until I'm at the top of my game.  Then, never stop)).

This is my assumption in this real estate game.  I will continually learn and take action for years.  I assume by 5 years, I'll have a sizable portfolio, with a sizable net worth.  I will have a sizable network.  The size of my knowledge and learning will be even larger.  

That's what takes the fear away.  Learn.  Learn your butt off.  Acquire knowledge.  Then, act on the knowledge.  Be smart about it.  For, what happens without action?  Nothing.  What happens if you don't get your first deal?  Nothing.  How much money do you make without your first deal?  None.

Get your first deal under contract.  Get it funded.  Get to the closing table.  Pee your pants all the way through if you must, but do it.  Get it done.

Your future self will thank you for it.

Keep rockin'.