Who wants to learn about Real Estate Investing? Me, me!..oh wait. I’m teaching it. You you you!
Hello Steemers, over the coming months I will publish several posts about Real Estate Investing, with a focus on rental properties. This information will be useful for anyone that wants to learn about real estate investing.
However, it will cater to people that are Scaredy Cats.
What is a Scaredy Cat Investor?
-Do you over analyze and hesitate to pull the trigger?
-Do you crunch numbers for every possible scenario your mind can imagine, no matter how obscure?
-Are you so worried that you will make the wrong decision and lose money you procrastinate to the point that opportunities pass you by?
If you answered yes to any of these questions,
You are a Scaredy Cat Investor.
I know this because I’m one too!
So I write these posts for me - uhm, I mean you!
Scaredy Cat Success
I’ve owned up to my risk adverse nature and over the years developed processes that enable me to take action and have success while that inner scaredy cat still hisses at me. I’m going to share my process in these posts.
Before we take steps to neutralize this attribute, we must first recognize it. Because it’s important to know where you have been to understand exactly where you are.
This risk adverse nature that we have; where did it come from? Why do we play it so safe and hesitate to pull the trigger if something feels remotely like a gamble?
Seriously, STOP and ask yourself this question.
Whatever you believe led you to be a scaredy cat investor – please know - you do not need to solve it.
Just recognize it and understand you can still excel despite it. This is done by putting in processes that ease your worry so you pull the trigger on deals!
For me – I learned that my scaredy cat mindset was developed throughout my adolescent and teen years. The word of the day and everyday for that matter in my household was scarcity. Having “enough” was always a worry. I basically grew up with a Great Depression mindset despite being born 50 years after the fact!
The point is - I learned that if you have something you better make it last. Ration it, protect it, SAVE IT! That is where my mindset on money was developed.
Problem with that mindset is in order to invest and build wealth through real estate (or anything for that matter) you must put your money to work, thus take RISKS!
Definition of a risk taker
Someone who steps into the game without already knowing the answer.
By that definition I was the furthest thing from a risk taker.
However, I have accepted there are certain variables I must deal with in order to invest, especially in real estate. Now that doesn’t mean I’m not still running every possible scenario to see what the outcome would look like! The difference now is I take ACTION.
So take what I’ve learned and by the end of these posts you will take ACTION too!
Remember, you cannot know everything and if you try to wait for all the answers or until everything is crystal clear then you will be waiting your whole life!
Trust in your ability and knowledge and make a decision. That’s not risk tasking, that’s decision making.
How did I learn to pull the trigger on real estate deals?
For me to shed my inner scaredy cat I needed to find the piece of knowledge and ability I could develop that gave me faith I’m making the right decision. It may be something different for you, but when it comes to real estate for me it’s all about:
BUYING RIGHT
For all my fears and risk adverseyness (did I just make up word?) buying right always helps me pull the trigger and feel comfortable with my decision.
How does one go about buying right?
That is the exact topic we will discuss and analyze in the next post!
Your Scaredy Cat Guide,
Mitchell J