

Get rid of your fear
Seven months ago I, while in graduate school, I was approached by a friend who was excited to get started in Real Estate Investing. This friend of mine was a former business owner local restaurants in town so I was intrigued. We meet a few times and discussed syndication. At the time I had no idea what it was, what it meant, and how to do it. He informed me of a site called BiggerPockets and told me to check it out. I did. Read about syndication, got scared and quit for a few months.
Up until a few months ago I decided to try this thing again, but by educating myself on the different strategies I can employ to be successful. Oh boy! There is a lot to this thing. Fortunately I was able to link up with a successful local investor and form a local Real Estate Investing Group in good old Amarillo, Texas. I meet with lenders, prowled the MLS, drove for dollars, made a business plan. I was flying high. I even picked up a second job, not for long though, to try to save up for a decent 20 percent down payment on a single family residence. Then the unthinkable happened.
I hit a brick wall. Got depressed and here I am. After reevaluating the problem I think it boils down to one thing...Fear! I thought I was taking actionable steps to accomplish my goals, but I was unconsciously sabotaging myself. I was afraid of failing. Using excuses, such as, I don't have the money to send letters or I don't have a down payment for a conventional loan. Enough is Enough! It's time to fess up and GET REAL!!!
Comments (5)
Fear is the number 1 killer of dreams. Fear causes you to avoid taking the actions that you need to become successful. Kill fear and the world is yours.
Josh Caldwell, over 8 years ago
Thanks Pauline and Robert for the restart.
I am at that point. I'm against that wall, that fear wall. Down on the whole process. I Got on here to give me a boost, to try and get me jump started again. Trying to stay moving on this investing ride is hard. After reading this I'm going to push through the fear, thanks for the wise words... greatly appreciated.
Yvette Crawford, over 8 years ago
@Yvette Crawford you are welcome.
Trust me...I understand whole heartedly how difficult this thing is. I have yet to close my first deal or transaction. I am happy that you will drive through these difficult times and press forward. BiggerPockets was formed to encourage, educate, and network to get through rough spots. Thank you for taking the time to read my blog and Good Luck!
Robert Butler, over 8 years ago
Fear - that can keep you from doing anything. Fear is healthy but it can paralyze. I think we can overcome fear by being persistent. Think of fear as brakes on a car. Use your brakes but dont stop driving.
I see many people who have less resources make their dreams materialize
My takeaway from that is - you have to do the work, make the decision, and jump in. Leave some room in your calculations for the unknown. Start small and learn from those mistakes. Find a mentor. That seems to work for many who have no experience. Bigger Pockets appears to the place to be for motivation and resources. I just joined but I like the resources available.
Pauline Charlton, over 8 years ago
Pauline,
I really like your anology about fear. A healthy dose of fear can keep us alive and too much can hinder. The thing is fear is ingrained into our DNA from our primitive ancestors so we have to reprogram how we react to it. Thank you for providing a different perspective.
Robert Butler, over 8 years ago