There are certainly more than 7 Legitimate Excuses that may be Holding You Back from Real Estate Investing, but these are a few I hear regularly and want to address:
- I’m afraid.
We all are/were when starting out. It’s natural to fear what you don’t know and understand. There’s a tremendous opportunity for mistakes. However, your fear is a good thing. It keeps you alert – keeps you focused – keeps you paying attention so fewer things go wrong. Find a mentor, someone successfully doing what you want to do, who will guide you and help keep you on track. There’s no need to go it alone. If you join HomeVestors, a local Development Agent will be assigned to you as your coach and mentor.
- I’m too busy.
We’re all busy, but is your particular busyness keeping you from success? At the end of the day, were you just busy, or did you actually accomplish something – something that moved you closer to your goals. You’re always able to reprioritize. How many hours can you take out of your week to spend focusing on what you really want to accomplish?
- I can’t afford it.
Which is a legitimate concern especially since real estate is such an expensive business. However, there are lots of ways to fund real estate deals. If you find a great deal, the money is always available and investors will jump at the chance to be involved.
- I might do it in the future.
You’re using your hours every day on something. Ask yourself, is it the highest and best use of my time? Will you look back 12 months from now and wish you’d started today? There’s always opportunity to make money in real estate no matter what the economy. If you don’t start, a year from now you’ll regret that you waited. Don’t you already wish you’d started 5 years ago?
- I’m waiting for the economy to improve.
What will the economy be? Who knows. But real estate investing is working now. In fact, it always works, you just have to modify for each change in the economy. For example, right now banks are lending and interest rates are low. It’s a great time to be selling. However, when the economy was more depressed and banks weren’t lending, it was a great time to be a landlord as there were so many more tenants than in a strong economy. No time is better than any other time in real estate – you just learn to shift as the market shifts.
- I don’t know how.
That’s exactly where we all start. But you learn. A HUGE advantage with HomeVestors is that they provide a roadmap and all you have to do is follow it.
- I don’t know enough yet to get started.
Experience is the best teacher. That doesn’t mean you should jump in while totally ignorant. So how do you begin learning? Join your local real estate investor groups. Find them at www.NationalREIA.com. Attend local landlord association meetings. Go anywhere there are real estate investors. Listening to others will teach you the language, what others are looking for and why, local vendors to use, and so much more. If you live in the Carolinas, be sure to attend one of our Deal Maker Sessions each month. Networking is how you’ll learn what you need to know and where to get the answers.
What excuse has been keeping you from getting started?