Confidence and Real Estate Investing

confidence_real_estate_investingI just read a great forum post on Bigger Pockets and it really hit home with me.  Check out what Eric Medemar wrote, “Failing at Investing.”

I have spoke with Hundreds and hundred of wanna be investors and I can tell you in 99% of the cases the trouble has nothing to do with:
The Real Estate Market…
The amount of buyers in the market…
The prices rising or falling…
The amount of information that they’ve studied….
Whether or not you have a business card…
Whether or not you send post cards…
Whether or not you have a good Realtor…
Whether or not you have cash…
Whether or not you have credit….

And the answer is…

In 99% of cases the problem that paralyzes most newbies is they have absolutely no confidence in themselves.

What he said is so absolutely true, it is all people really need to be successful.  You do not want to be cocky, but when you are out trying to accomplish a goal you need to attack it with confidence.  Stop asking yourself all the “What If’s” and scenerios and go make it happen.

As you are getting started real estate agents will laugh at your offers, your friends will think you are crazy, you will hit some speed bumps, but to be successful you need to get out there until you starting hearing people say YES to you.

Once you achieve your first YES answer in anything, getting to it a second time is so much easier, not because what you are doing gets easier, but because internally you believe it is possible.  After a year in the business you will believe buying property at 70% of market value is possible and see it happen everyday.

So stop asking yourself “What If,” get out there and hustle until you accomplish your dreams.

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2 Responses to “ Confidence and Real Estate Investing ”

  1. Good post Steve – I actually just posted something pretty similar at

    http://gabhartinvestments.com/article/real-estate-turtles-loses-the-race/

    Here is the poem

    Real Estate Turtles Loses the Race

    If I could just turn back the clock
    What real estate I’d have in stock!
    But I could never make a deal
    Nothing showed to me had appeal.

    Lousy areas offered by the hour
    Good for nothing – (but the Hancock tower)!
    Brokers advised – this land will be great.
    I passed it up – now it’s Route 8!

    Buy in Santee? – I don’t like the “sticks”
    No future there – I’ll be in a helluva fix
    I’ll do just fine if I go slow and let the time tick.
    D’ya know I could have owned Route 56!

    Well maybe I do have special yearnings
    I want to buy less than six times earnings
    Other buyers were just stupid guys
    They now hold deeds to a lush high-rise

    I frown at stuff I’ve seen before
    Don’t understand why now it costs more
    I take no stock in a high growth rate
    I’ll just sit tight and procrastinate!

    So I keep looking with a negative view
    And nothing I see will ever do
    My buying power gets ever smaller
    As I lose pace with the inflated dollar!

    (His epitaph will read I’ll bet
    “He hasn’t seen a good deal yet.
    Played the role of a real slow-poker
    May be missed – but not by his broker!”)

    Author Unknown

  2. Tin says:

    Two kinds of dreamers. One woke up and still thinking about what he dreamed, the other go take action and make his dream come true!

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