​3 Obstacles of Starting Out in REI and How to Overcome Them

When you first heard about real estate investing, it sounded like the answer to all your problems. It sounded like something you could do. It sounded simple.

And it IS simple.

Yes, simple, but not easy. Investing in real estate provides an endless amount of opportunities, from owning rentals to wholesaling. Not to mention all the creative ways to fund your deals, like FHA loans, private lenders and seller financing. It seems like the more you read, the more there is to learn and you just end up “stuck,” not really knowing what to do to move forward.

Everyone had to start at some point, right? That means every investor has been where you are. Don’t give up! Begin by following these tips to defeat the obstacles you may be facing:

• Overcome overwhelm! There is A LOT to know about real estate. And there is always going to be something new to learn. So how do you stop the amount of information from overwhelming you? The key is to identify the next actionable step. Too often, newbies are stressing out about how long their flipped house is going to sit on the market before they even find a deal! As Newt Scamander says in Fantastic Beasts and Where to Find Them, “My philosophy is that worrying means you suffer twice.” Stop worrying to free up some head space for more productive thoughts.
• Change your mindset. Many people are put off when they encounter problems that they can’t solve. But oftentimes, they don’t even give themselves a chance to try. When faced with difficulty, instead of saying “I can’t,” try asking yourself, “How can I?” This will open up your mind to new and creative options that weren’t evident to you before.
• Turn your fear into excitement. Think about the physical responses of fear. Sweaty palms. Heart racing. Butterflies in your stomach. If you actually break it down, fear elicits the same reactions as excitement. The only difference is your perspective. Starting anything new can be very frightening. You don’t know if you will fail or succeed. Our natural fear of the unknown is very prevalent. But if you just took that fear and changed its identity, you will realize that the future is actually exciting! You are starting your real estate investing journey. This is the story you will be telling in a few years to future newbies replacing you as you keep progressing. Remember every moment!

Sometimes the hardest part about getting started is the actual decision to head in a new direction. And since you’re already here, that means you’ve already begun. You have it in you to succeed, so just continue pushing yourself in the right direction. Good luck!