Getting started - Posted by Domenic Tankersley

Posted by Domenic Tankersley on October 07, 2003 at 22:05:00:

Teresa you are so right so what have you done to get yourself started?

Getting started - Posted by Domenic Tankersley

Posted by Domenic Tankersley on October 06, 2003 at 10:44:21:

I am in the process of getting started and I would first like to say Ia m scared out of my mind. Now with that out in the open I am ok to move on and get my feet wet. But what should I do first. I’ve read all the post and all the news groups over and over again. I’ve been coming back and forth for the pass 3 to 4 years reading all the articles over and over again. I read many books and e-books. But I want to get going but I am not clear on what should I do first. I think I will start with the flyers and the businesscards getting my name out telling the world I am in the business of buying property. Now i will also like to teach people how to do this one day so I will do that also.

I will say this I do live on the eastcoast property is kind of high in the 200,000 rang but that’s not the markert rate.
So will be going just want to get some of this out…

Re: Getting started - Posted by Brent_IL

Posted by Brent_IL on October 09, 2003 at 10:57:54:

When you don?t know what to do next, look at the desired outcome and work backwards.

  • You want to make money buying houses in an untraditional manner.

  • To do this, you need to buy a house.

  • To buy a house, it?s necessary to make an offer to purchase to the owner that meets his or her needs.

  • A traditional buyer would look at listed properties to contact the owner indirectly through a real estate broker. You want the property owners who will sell in an untraditional manner to contact you.

  • To get a property owner to call you up, you need to spread the message throughout your buying area that you buy residential real estate directly from owners of record and that you can close quickly.

  • You?ve chosen flyers and business cards as your method of advertising your services. To implement this, these items must be printed and distributed.

  • Get up and go to a printer. Then distribute.

What you said in the first sentence is controlling everything else in your plans. The good thing is that you’re still dreaming of success in spite of your fear. The bad thing is that you’re still dreaming of success.

I?m going out on a limb here, but I?d suggest that after reading all of the articles over and over, and reading many real estate books and e-books, you do know what to do. If not, you should start taking notes as you read.

You and Theresa are experiencing what?s referred to as paralysis by analysis. This is a common coping mechanism to mask our fear of failure or our laziness. In our dreams, we are always successful. If we don?t try, we have hope. If we try, fail, and stop trying, we have no hope of betterment. We can?t tell ourselves that we are afraid of being embarrassed, so we rationalize that we need more something, e.g., knowledge, cash, income, collateral, credit, etc. If only we had the missing piece, then we could move forward. Until then?

Since you recognize your fear, and you want to address it, you?ve on the right track.

Instead of focusing on the overwhelming main goal of being a successful real estate invested who is well-qualified to teach, or on busy work like writing your own contracts when generic ones are readily available, try setting goals based on intermediate steps like printing cards and posting flyers. These are actions that will lead people to find you, so that you can make a creative real estate offer to buy their house. Directed activity will solve most of the difficulties of creative real estate investing.

Re: Getting started - Posted by theresa castillo

Posted by theresa castillo on October 07, 2003 at 11:02:53:

Wow! It’s good to know that I am not alone. I thought I was missing something. I’ve been searching for that same clue. I’ve been searching for about a year. I’ve read quite a bit of information, bought a few courses but I’m still on square one. When I ask, what should I do, they tell me - go find properties. I must be missing something. I’m in the Northern Virginia area. Anyway, keep looking. I’m sure it will come to us. Good Luck!!

fear - Posted by Andrew

Posted by Andrew on October 09, 2003 at 16:15:44:

What he said. A favorite phrase of mine is “the only thing to fear is fear itself”. More than problems with credit, financing, properties, tenants, buyers, realtors, or anyone/anything else in this business, fear has the capacity to stop you dead in your tracks.

It takes huge mental energy to stare fear in the face and say, you know what, I’m gonna do it anyway. But that’s what we must do, day after day after day. And, as we get more experienced, the fear diminishes.

The flip side of this is that everyone else has the same fears, and in most cases, this keeps them from acting, thereby filtering out a large proportion of the competition for you. It isn’t the smartest people who win in this or any business, although that helps. It is those who overcome their fears the best.

Good investing (from one also strugging with fear on a daily basis).

Re: Getting started - Posted by Domenic Tankersley

Posted by Domenic Tankersley on October 09, 2003 at 16:07:17:

You are so right about so many thing and I need to make small steps to get to big outcomes and I will start doing that. So my first step is the flyers and the business cards. So I will be working on them today as of this e-mail. 10/9/2003. So wish me good luck and no fear…