Analysis Paralysis (Getting Past the Fear)

Atychiphobia is is the abnormal, unwarranted, and persistent fear of failure and you have it. You have spent months or years on BP gathering information, learning from the pros and being involved in the forums. Listening to podcasts, reading books and registering for webinars. But after all that time and education, you still can't seem to pull the trigger and go after that first deal. Here's a few things that might help you make that leap.

Don't Repeat Your Parents' Mistakes
I remember my father telling me stories of when he came to the USA. He ended up in Houston, but before he did, he spent some time in San Francisco with a friend. His friend gave him a place to stay and a job and after some time, his friend decided he wanted to go into real estate. He asked my father to partner with him, but my dad was never one to take chances. He had an opportunity to go to school in San Antonio, so he opted for that, to get a degree and then go into the workforce. His friend became a multimillionaire. My father did well, was living a decent middle classed wage and provided for his family, but I think some part of him regrets not taking that chance all those years ago.

Take Baby Steps
I closed my first deal a couple weeks ago and I started from scratch with no idea what to expect. But each day I would take one small step towards my real estate goal. First I designed some postcards. Then I ordered postcards. I ordered a list of absentee owners. I labeled my postcards, etc... Each step was a simple one and easily attainable, but each step got me closer and closer to my goal of owning real estate. I spent my free time learning as much as I could from the BP blogs and forums, but I made it a point to take a baby step each day towards my actual plan.

Have a Plan
In order to take baby steps, you have to have a plan. I wrote a short one page plan to outline what my real estate investing niche was and what my ultimate goals were. It is a simple way to keep myself on track and not get sidetracked. 

You'll Never Know it All
There's just way too much information to learn everything you need to know. There are too many variables and situations so you'll never be able to anticipate every move you'll need to make and know. At some point you'll need to know this and use the act of doing it as the final step in education. I see real estate investors who have decades of experience and still asking questions on the BP forums. These are the guys that we learn from but they don't know everything either and they aren't afraid to ask questions.

Find Something You Fear More
There are two things I fear more than failing at real estate investing; having to spend the rest of my life working offshore and missing more time with my family, and regret. Everything I do towards real estate gets me a little bit closer to being home full time and with my wife. And someday when I'm old and reflecting on my life, I won't have to think, man I wish I would have tried that. I wonder if I could have been a real estate investor.

Part of the reason I got past my fear is just my personality type. I'm an A type personalty, I have started and had successful businesses, and I have failed terribly. And yet, I'm still here, still working and making money. I have lost and picked myself up and done better than I was doing before. Failing at real estate won't end you. It will teach you. And if you don't let it beat you, you can take what you learn and become better than you were before.