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Updated over 7 years ago on . Most recent reply

User Stats

722
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Jonathan Twombly
  • Rental Property Investor
  • Brooklyn, NY
1,260
Votes |
722
Posts

What Is Your Biggest Obstacle to Getting Started in Real Estate?

Jonathan Twombly
  • Rental Property Investor
  • Brooklyn, NY
Posted

When I started out, I had two main obstacles:

1.  The internal obstacle of my belief that no one would take me seriously until I had closed at least one.  It took me a while to be able to tell people I was a real estate investor without feeling like a fraud.

2.  The inability to get a decent deal.  First brokers would not show me deals; then I went into contract on some bad deals out of desperation, which then did not close and I wound up losing a lot of money; and then I switched markets at was at zero again, with brokers not showing me deals.

I eventually hit upon strategies to get me over the hump, but getting started was hard.

What has been your biggest obstacle?  

1.  Is it lack of equity capital?  

2.  Inability to get mortgage debt?  

3.  Inability to find deals?  

4.  Are you just getting in your own way with negative self-talk?

5.  Or are you in a vicious cycle where one of the first three is reinforcing No. 4?

Or is it something completely different, like lack of support from your spouse, etc.?

Let me know in the comments!

  • Jonathan Twombly
  • Podcast Guest on Show #172
  • Most Popular Reply

    User Stats

    696
    Posts
    257
    Votes
    Linda Labbe
    • Investor
    • North Bay, Ontario
    257
    Votes |
    696
    Posts
    Linda Labbe
    • Investor
    • North Bay, Ontario
    Replied

    Am 66 so can relate to it being late to getting started. BUT since i believe that today is the 1st day of the rest of my life it is not...hardest things was finding people to trust there are a lot of sharks  out there in them there waters... and since  I live in Canada getting the whole cross border things sorted.

    Early errors cost big  but the mistakes  helped me get to where  I am today  even thought they had a huge price tag (40 000  Canadian ) I consider it a small cost to learn what i needed to know to invest for the next 40 years. 

    Choosing the right spot was the next hardest thing  the US is a really big place but for the last 6 months things have gone well and I  am not overjoyed with my decisions.

    Right now my passion is my investing and helping others so they don't make the same errors that I did  early on

  • Linda Labbe
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