BiggerPockets

Background for those that don't know me: I am a full time real estate investor and I have invested in nearly every aspect of real estate. Recently, I have added transactional funding services to short sale and REO investors.

If there is one common denominator I have seen throughout the years, it is FEAR! Fear has a way of preventing many from taking action and that is the prime cause of failure (in my book, never getting out and trying is a failure!).

One of my favorite motivational sayings is this: The rich act in spite of fear while others allow fear to stop them.
This holds true and I have seen consitantly that those who allow fear to stop them, never really get ahead.

If you are one of the many contemplating some type of real estate investing strategy and have been too scared to start or too fearful of taking action, then you need realize what is stopping you. It is almost always one of two or both of the folowing items: Fear and laziness. If you are lazy, you are screwed. If you are just fearful, you need to just take action. There is no rule that states you need to do a huge or high dollar transaction to get started. Even if you do a $500 deal, that is a starting point and gives you the motivation and confidence to do another and improve on your goals.

Use BP Nation as your partner in education, in finding deals, in selling deals, in finding money, in finding a job, in finding a friend, in finding a business partner, and the list goes on. The opportunities are endless and allowing fear to prevent you from getting started and taking action is a serious mistake!

Happy investing to all!
William Barnard

Originally posted by Michael Juve

I wish I knew why it is I've put stuff off for so long. But no longer. Only thing I need before advertising for deals is getting a contract. I spoke to an attorney, but that would of cost $100+. There has to be a cheaper route.

While this may be true, you can get contracts for cheaper through other sources, there is nothing like developing a relationship locally that will save you tons of money in the long run. If I were you I would save it up and start on the right footing as a goog local attorney is really invaluable to your business.

Will, as far as fear goes, those that do actually get out and do something will still tell you that they are still fearful. But this fear I would describe as respect.

They say that if you play with fire you are bound to get burned!!!

But I have found out that if you feed that fire and watch it you learn it tendencies and with that comes the respect for what it does and how it does what it does.

Respecting something allows you to do more with it because you have learned how it reacts to certain stimulus. This respect does not keep you from being "burned" but does allow you to do more with it because you have learned it.

So, everyone, get out there and change your fear to respect. Expect to get burned a little and prepare for it so it is not a major setback and keep going.

Originally posted by nationwidepi

Michael,

A RE attorney is a crucial member of your team, but if you are speaking about a simple purchase and sales agreement (PSA), you can get the standard CA PSA from any realtor, online, or even at some local office supply stores.

If you are speaking about some more complicated investment contracts needing an attorney, then you should be coughing up the fee to make sure YOU are protected.

I am glad to see my thread inspired you to stop the waiting, stop the sitting around, and take action. There is only ONE way I know of to become a RE investor, and that is to actually get out there and buy something.

Of course I want you to buy right and not just anything, but get out there and make some offers. BP is a great resource of free education for you, know all you have to do is pick the strategy that fits your goals and personality and start doing!

Thanks to all who voted for my post! With no responses for a few days, you all had me worried I was way off track.

I am definitely not under estimating the importance of a real estate attorney. It's just that for a standard purchase agreement $100 for the first hour, and then the usual rate (whatever that is) for any extra time seems pretty pricey.

I just need to close this first deal ,even if it's just $2500 or so, so I can have some operating capital. Not only the extra operating funds, but I think it will knock down that huge wall that has me questioning every move. Here is to that first deal getting done. :cool:

If all the people out there can do it, there is no reason I can't. I just have to stop beating around the bush.

BP & its member as VERY MOTIVATING !!!!

Originally posted by Carson H

this website seriously changes lives...mine for sure.

We are glad to hear that Carson. There is an abundant opportunity in real estate and all one needs to do is see it and take advantage of it! :D

NICE POST... Hi I'm Jim I'm 22 years old and a newbie to all this and I can say that I read about strategies and now I'm slowly starting to network with Real Estate Agents and Mortgage Brokers.... It takes time its never as easy as they make it seem... and yes I get afraid but I don't let it hold me back. I set the goal of closing one deal in about 6 months. Do any of you have general advice for the "new guy" with not much credit, and not much income? Right now I'm trying to get my Real Estate license to sell some homes and make some money. I want to do this full time. (random thought Should I post questions somewhere else? lol )

Fear is a natural reaction of your sub conscious trying to make sense out of a new situation. I have been a full time investor for years. I just put a 4-plex under contract and am trying to get the 4-plex next door under contract so I can own the entire corner of 8 units. I don't have long term financing in order yet for after I get them rehabbed and rented. I have slept very restlesly the last few nights because I am venturing into territory I haven't been in for years. So I think as long as you are pushing new bounderies, fear never truly subsides. You just learn to act inspite of it, huh?

Originally posted by nationwidepi

No doubt, I agree! SInce you are in CA, just get the standard PSA from any realtor, it is FREE! Then get your offer in and make it happen!

Can I just ask any realtor for a PSA and they would be willing to give me one? Or would I need to get it under the pretence I am going to make an offer?

Originally posted by Michael Juve

Originally posted by nationwidepi

No doubt, I agree! SInce you are in CA, just get the standard PSA from any realtor, it is FREE! Then get your offer in and make it happen!

Can I just ask any realtor for a PSA and they would be willing to give me one? Or would I need to get it under the pretence I am going to make an offer?

If you get one under false pretences, how are you going to return to the realtor in the future? You may need them to get referrals, purchase other properties which they control, ect. What will then be your "relationship" with them be like?

Your business depends on relationships and networking.

False pretences destroys these things.