A young lady became interested in becoming a real estate investor. She read every book she could find, attended seminars and listened to hours of podcasts on how to find the best investor opportunities. She met an experienced investor who shared his email address and said he’d be happy to help. She wrote him a long email asking about Cap Rates, ROI, Cash Flows, Seller Financing and Real Estate Investment Trusts (REITS). The next day she received a reply from her mentor. “Buy something.”
There are many ways to start investing, but most people get stuck in the analysis phase. You’ve heard the term “analysis paralysis” and nowhere is that more evident than with a new investor trying to decide where to invest. In pursuit of the “perfect deal” they can pass by dozens of "good” or even “great” deals. You never make any money if you never own anything.
The types and numbers of possible investments are mind boggling. It’s like trying to decide what flavor of ice cream you want in a 1,000 Flavors Ice Cream shop. What makes an investor successful is a mindset change from being scared to being committed to getting into the game and choosing something.
The poorest investors are those with their heads stuck in spreadsheets trying to find reasons not to move forward.
This doesn’t mean that you should throw caution to the wind, it just means that you do your homework and then move forward if everything checks out. Be smart and then be bold.
Most of the time how well an investment does is determined by how long you own it, not on how cheaply you bought it or how much interest you paid. Yes, those terms are important, but a cash flow producing property, in an appreciating area, is going to be a hit. Just because you didn’t win the Gold medal doesn’t mean that your Silver medal wasn’t a great success. Most people never even get into the game.
Fear can be a stupefying emotion when people consider parting with cash. They tend to over analyze and talk themselves into doing nothing. You can change your mindset to one of pursuing opportunity while still maintaining a clear mind about what works and what doesn’t. Commit to buying something and you’ll never look back.
Learn more and get in touch with me or any one of the 25 members of DS Elite to take action today!
