Afraid to Take the Leap and Start Investing?

In real estate, fear is a normal. In fact, a little bit of it is even healthy, because it can keep you from making poor decisions. But when fear takes over and tries to make you stop before you’ve even started, then it becomes a problem. If you’re on the verge of making your first real estate investment, but find yourself stopping just before making the deal, read this to help give you the motivation you need to embark on your investment journey.

Understand the Reasons Behind Your Fear

Before you can move past the fear, you need to understand exactly what it is you’re afraid of. There are a lot of different reasons people hesitate before making their first investment, but some of the most common are:

• They think they don’t have enough money
• They’re intimidated by the commitment of home ownership/being a landlord
• The timing seems wrong
• They struggle to find what they believe is a great deal
• They don’t know enough about property investing

Whatever YOUR reason, spend some time reflecting on it and what may be causing it. Face the fear, and explore it. Don’t get wrapped up in the emotional aspect of it, but think of it from a logical perspective. Play out the possible outcomes, and decide if the fear is actually grounded or not. If it’s not, you can move forward. If it is, you can start exploring possible alternatives or solutions to begin to move past it.

Educate Yourself

Know what the antidote to fear is? Information. Learning all you can about real estate investment can illuminate the unknowns and ultimately help you overcome the fear. It’s like those old “The more you know... “ commercials - the more you learn about properties, housing markets, cap rates, vacancy prevention, and so on, the less likely you are to be consumed by fear. So start researching!

Don’t Be Afraid to Ask for Help

Talking to other investors - especially successful ones with lots of experience - can also help you work through fear and prepare to take those first steps. These people understand what you’re going through; they were there once too. They’ve also come a long way since then, and they’ve had experiences that have shaped them and helped them reach their own investment goals. Do some networking, talk to others in the business, and don’t be afraid to ask for help.

Remember It’s Okay to Start Slow

Investing in real estate is a big deal. It’s a life-changing decision that you have to take seriously if you want to be successful at it. It’s also not something you want to speed into if you’re not 100% ready. Baby steps are fine; in fact, starting slow is a smart move because it allows you to ease into investing and may even help minimize risk. If you’re not ready to move full-speed ahead, don’t sweat it. Approach it slowly and thoughtfully, and move at your own pace. Just make sure you’re actually moving!