Originally posted by "esnuts":
I think a person should take 2 or 3 months to learn about real estate investing and find out what will work and what will not work for them. There is just nothing more sad to me than when a 60 something calls me up to start investing and he/she has been "thinking about it for years", or when I speak with people and they say that cant afford to invest. As far as im concerned you cant afford not to invest. Do something, if you have no money learn to wholesale, or lease option. Sit down with some investors who have done what you want to do and do what they did. I only say investing is easy because I can do it, If I can do it anyone can.
When I refer to do something, I dont mean run out and buy the first property, but lay out your road map to where you want to be and get on it. Set your goal and break it down into large steps then break those large steps into baby steps. Baby steps are great because if you break them down small enough, you can go at each one with the confidence that you need to get each one done. You can walk around the U.S if you want, as long as you just keep taking one more step.
You do not "think about real estate investing" for more than 2 or 3 months, if no action is taken after 2 or 3 months you are no longer "thinking about real estate investing" you are now thinking about why not to do real estate investing.
For me part of the problem was I had a hard time finding someone that was or is willing to let me sit down with them or take me under their wing. I've done a few deals and one I lost a little bit on. It was a good experience and fourtunately I don't lose my ***. Losing even a little is painful though. So even though I have been around investing for a couple years I'd still love the experience of working on stuff with a seasoned veteran. I seem to learn far more when I see the methods in action as opposed to reading about them. I've read tons of RE books and there all slightly different or nothing they say ever goes the way they say it will.
For years I sat on the fence watching, no money, and always affraid of failing. I still have some of those consevative fears. They have manifested themselves in me for much of my life and, for me, are a product of my upbringing. When your family constantly says, "Don't stick your neck out too far or you'll lose your head". Those are the type of things that become rooted deep and keep people conservative. Then I see one of my friends jump at anything and everything. He fails a lot but he succeeds more it seems.
Not sure where all my babbling is going other than to say, I was on the fence for a long time. I'm always looking for someone in my area that will teach me more so that I can walk away from the fence forever.
