Real Estate Investing: What role does fear play in our decisions?

One night, when my family was out to dinner, my 3 year old gave me an idea about how to explain the need to get over your fear if you are going to be a successful real estate investor. The perfect storm for real estate investors to purchase great investment properties in Memphis will not last forever. With a company like Memphis Invest, and a proper perspective on fear, investors can develop high quality portfolios of Memphis cash flow properties. Here's the story.....

On Monday night we took our 3 year old out for Chinese on his birthday. He loves everything that is edible and will try almost anything unlike his 7 year old brother. So here he is with his chopsticks wrapped around a just delivered egg roll that's as big as his fist and determined to get it in his mouth. You see, he set a goal - he was going to get a bite of that egg roll one way or another. Being that it was just made and delivered fresh, it was still a little hot and his first bite gave him quite a shock. He quickly shot that first bite back on the plate with a look of disgust on his face and grabbed his water to cool off his tongue. After I explained to him that he needed to blow on it to let it cool off before taking a bite, he proceeded to try that bite again and loved it!

It was so funny watching him eat the rest of his egg roll, blowing on every bite from every direction, but enjoying every bit of it! He ate the whole egg roll along with everything else we put in front of him that night. While watching him it occurred to me that he learned from his own experience, listened to someone else tell him how to achieve his goal and went after it again - savoring his victory! I can guarantee he will eat more egg rolls in the future. So how in the heck does that relate to Real Estate investing in Memphis, TN.??

Most investors I have talked to in the past have always known they wanted to invest in real estate. And almost everyone of them has had a set back - a shock - taken a "hot bite" that scared them a little. The successful ones have all taken their time to regroup and figure out how to not get burned again. They've learned from their mistakes, sought out advice and help and some have even gone to work building a better team to surround themselves with. All have ended up enjoying their experience and growth as real estate investors.

The important lesson is that not all deals are going to go super smooth. Some are going to leave you with bumps, bruises and burns.  In the long run, all those mistakes heal and your real estate portfolio should leave you smiling!