We are in the perfect storm for investors right now with outstanding opportunities available.
What is holding you back from moving forward?
Fear?
Cash?
Credit?
Not sure how to take the first step or the next step?
Lack of a coach?
Not sure which investing model to go to (i.e. flipping, wholesaling, buy/hold, lease option, etc)???
Jim
Is there an E - all the above? Done so much reading, I have analysis paralysis. I’m one of those learners who need to see it done. Really, walk me through it and I can do it all day, every day. I don’t need to get rich quick, and frankly wouldn’t do it at the expense of someone else in a zero sum game. Seriously don’t know where to start and how.
Jim,
Add to your list…Fear of Success…this often hampers people more than fear of failure.
Good point on fear of success.
Where to start depends on where you want to be in the future.
Do you need to create income now to live on or can you invest for your future?
Jim
Cash
Have bought a bunch this year. Spent most of my cash, tired of borrowing.
Find money or fear?
Funny, we just asked our list what the two biggest things that are holding them back from real estate investing and or flipping houses. The #1 thing by far was getting financing and finding money. The #2 thing was fear: fear of the unknown, fear of failure, fear of making a mistake, fear of losing your shirt…the list went on. We did not see fear of success, but I think most people have that they probably just dont realize it!
If you have your own cash, then from this survey, no problem it seems. But if you dont have the cash or the financing, you have to go out and get it through partners, banks (yes they can actually lend lol), private money or even hard money. I wonder if they had the cash if they STILL would be held back by fear??
Seems like that is the the thing that holds new investors back. For guys like me, its getting more deals and scaling!
My biggest fear is being unprepared (an aspect of control). There’s so much that goes into making a deal work that it seems almost mind boggling. I don’t mind putting in the work, but it’s harder to do with little direction. What I’ve come to realize is that all the seminars, books, home study courses, articles, coaching programs, REIA meetings…all of it means NOTHING! Unless you’ve got somebody to “hold your hand” literally then that fear of failure only makes sense because…you don’t really know what you’re doing!
A little solid advice
An idea for you:
Make a list of locals in your area and start calling them saying you’d like to buy them cuppa coffee and get some hard ideas on what they’d invest in right now.
Maybe one out of 3 will meet with you and you should come away from those meetings with some new friends/prospects/directiions at almost no cost to you.
Old salesmen trick…talk to a lot of people as that’s where ideas and prospects come from and I’ll guarantee you know NO successful saleman who doesn’t or hasn’t done that.
That is a struggle a lot of people have. They get all the training and book smarts and can’t pull the trigger on the first one.
My first wholesale deal I struggled a lot to get done. I would find houses and no buyers; then have buyers and no houses… perseverance led to getting both synchronized and then it was very easy. If I had a coach it would have accelerated my ability to apply what I had learned a lot faster.
Jim
[QUOTE=dbris001;886880]Is there an E - all the above? Done so much reading, I have analysis paralysis. I’m one of those learners who need to see it done. Really, walk me through it and I can do it all day, every day. I don’t need to get rich quick, and frankly wouldn’t do it at the expense of someone else in a zero sum game. Seriously don’t know where to start and how.[/QUOTE]
I am with you on this one. Spent a fortune on Gurus, found this site and now trying to figure out where to start.
Dominick
Welcome and thanks for posting to the forum. Feel free to continue to post questions and let us know what you are working on.
This is a safe environment of like-minded people who would like to help you.
Jim
No sure where to start?
It does not matter all that much. Take action.
Walk some streets to find neighborhoods where you might want to invest. Attend RE meetings with other local investors. Post updates here explaining what you did in the last week and let others offer suggestions for next steps.
Block out a couple of hours a week and take action. Mostly outside of the house where you are in the market rather than reading books or online. Attend open houses, talk to agents. Do some real things to get moving. Once you are moving you can worry about what the order is.
Hi Jim,
I agree with the others in that there is a lot of fear on what to expect. I for one have been trying to get into the business for a while and have not done so because I don’t have someone to “hold my hand”, needless to say that I don’t have the cash either! I have read many books and attended training, but have not taken the first step. I really like this site because it’s full of so much great information. Now all I need is someone to “hold my hand” at least for the first couple of deals, and I am ready to start NOW!!
Good point on having someone hold your hand through some deals, it does make it so much easier.
What are your investing goals? Where do you plan to start?
Jim
What’s holding you back?
What a great discussion. Thanks to all of you who have chimed in!
What’s holding you back? Part 2
My good friend and Forum Host, Jim Ingersoll, and I have been secretly working on a fantastic new program for beginning to intermediate real estate investors.
We’ll be launching it in January and YES! it involves “hand-holding” and extreme step-by-step training:
[i]Affordable Coaching & Training
for Real Estate Investors[/i]
Would you be willing to pay a nominal monthly fee for “hand-holding”?
Membership will be strictly limited so we can give you the attention you deserve, so be sure to subscribe to our free Newsletter (on the Home page) so you can get on our “Early Bird” list.
Let us know what you think!
J.P. Vaughan
Publisher and Founder
We find that there are very solely three Reasons individuals do not invest
they’re afraid
They suppose they are doing not have the cash or the time.
they are doing not recognize wherever to start out
If you’re facing any of those challenges you’re not alone however don’t allow them to cripple you to inaction! consider our testimonials and you may see that these are solely excuses.
Just play
It’s funny; lately my friend expressed desire to play chess with me and I never knew she has interest in it. We started to play and I see she is excited and thrilled but her main question where should I go? Which piece to move? I was stunned but then remembered myself when started, it was like really no room to go, no vision of what to do! Now I can say when you keep following your passion and just play and play a lot, one day you will see endless possibilities in the game and the ways to achieve your goal.
Lubasha
That is a great analogy - thanks for sharing.
Real estate is the same way. Strategize, make a plan and execute it.
Jim
Yes, Lubasha, great post!
–Natalie