The ABC of Real Estate Investing

I am in the middle of reading "The ABC's of Real Estate Investing" by Ken McElroy.  As  finish a chapter I will discuss the chapter and what actions I have taken. here is my Chapter One review. 

What I learned in Chapter One:

I think that I have fallen prey to a couple of the myths that Mr. McElroy identified.

1. "You have to already be wealthy to invest in real estate"- I just thought that you needed a lot of money to get started. I still believe that you need money to be a player in the game but not as much I thought I needed.

2. "you have to know somebody to get going in the business"- I didn't really know anyone doing this until I started asking around. One of my subordinates told me about this site. Now I feel I know a lot of people in the business. Taking the action to get started has allowed me to get the ball rolling.

3. "You can't be afraid of failing"- I conjure this up to making a lot of bad entrepreneurial decisions in the past. I have tried and failed at five different ideas. I attribute that to not being defined in what my goals were and just wanted to make money quickly. I need focus and stay the course.