One of the most difficult aspects of getting your real estate investing or wholesaling business off the ground is overcoming the fear and uncertainty that comes with attempting something new. Many beginners get stuck on the sidelines suffering from analysis paralysis, thinking that if they just buy “one more course”, they will finally feel confident enough to get off the fence and start doing deals.
The reality is that the fear and uncertainly will never go away no matter how many courses you buy, or how many bootcamps and seminars you attend. The only way to get over your fears is by getting off your butt and taking ACTION! Even if the actions being taken are baby steps, they will help build your confidence, and will also build momentum that will carry you forward into taking even bigger steps, until one day you will look back and wonder what you were so scared of in the first place.
Following are 4 action items that you can take (starting right now), that will help get you off the fence and on the road to becoming a successful real estate investor or wholesaler.
Attend a REIA meeting in your area and pass out business cards: Networking with other investors and wholesalers in your area is something that will help you out tremendously, especially when you are just getting started. It may seem intimidating at first, but you have to start somewhere, and local real estate club meetings are the perfect place to get the ball rolling.
Ask a successful investor or wholesaler out to lunch: There’s nothing more inspiring than sitting down and rubbing shoulders with someone in your own market who is out there making things happen. If you don’t know of any successful investors or wholesalers in your area, you can probably find one or two of them by completing #1 above.
Practice talking to sellers: The only way to get over the fear of talking to sellers is to actually talk to sellers. I know this probably sounds too simple or obvious, but it is true. When I was first getting started I was scared to death of talking to sellers, so I would make myself sit down at my desk with the real estate classified ads and not get up until I had cold called 10 sellers. I did this every day for several months, and I can tell you that my fear of talking to sellers all but disappeared.
Practice making offers: If you plan on becoming a successful investor or wholesaler, you might as well get used to hearing the word “No!” This business is a numbers game, and the more offers you make, the more likely you are to score a deal. Getting in the habit of making offers on a daily basis is one of the most profitable habits you can develop. If you don’t have any leads of your own to make offers on, do what I did and whip out the classifieds and start dialing for dollars!
Momentum is a very powerful force, but one that can not be created by sitting on the sidelines in fear. While there is no guarantee that taking any of these action steps will result in immediate cash in your pocket, the experience and confidence you will gain from doing them is something you can not put a price tag on!
Photo: Salvatore Vuono
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Article Author: Stephani DavisStephani has written 47 articles for us.
Visit Stephani's Website: http://www.flipthiswholesaler.net/
Formerly a bartender, Steph Davis is now a full time wholesaler in Tampa, FL. If you'd like to get an idea of what it's really like out there in the trenches, head on over to her blog: FlipThisWholesaler.net!
Joshua Dorkin
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Great post, Steph! I’d like to add a couple points on the networking. I’ve found that going to real estate investing meet ups (meetup.com) has been pretty cool because its a smaller number of people and you get to know everyone. Sometimes the REIAs (particularly huge groups) can be intimidating, so its important to know that the goal is not to meet everyone and their mother at the meeting. Make it a goal to meet and have REAL conversations (not business card exchange drive-bys) with 3 to 5 people and that’s it.
That’s a great point, Shae.
I was always a big fan of the smaller meetings, too. Mush less intimidating, and there was rarely anyone there pitching their product- it was just straight up networking…
Great article Steph!! The point really is to just take little actions every day to slowly gain confidence and build momentum. It’s always amazing how far you’ll travel by just taking one or two little steps every day. Awesome advice.
Thanks Julie.
As ususal, this article is very informative. I have to admit that this article speaks directly to me. I am actually not a shy person, but am scared to death to talk to people for the first time. I want to go to a REI meeting here in Houston, but I am so afraid that i wont have the courage to actually get up ans speak to anyone. I even tried to volunteer to work at the meetings thinking that this would help, but no one has responed to me with that. Thanks for all of your encouraging words and sharing so many experiences Steph! Keep up the good work!
Shawn R.
Hey Shawn,
I swear to you I was the exact same way when I was just getting started- probably worse.
I even spent a bunch of money on advertising, and then when sellers started calling me I was too afraid to answer the phone so I would just let it go to voicemail, and then I never called back because I was so nervous. True story- I’m not making that up.
The ONLY way to get over your fear is to just do it. It sounds cliche, but it is the absolute truth. I promise you that it gets easier and easier the more you do it, and you really will look back on it and wonder why you waiting so long…
Steph
Good recommendations Steph, and might I add the investor should try to find a Great Mentor that is willing to share their knowledge.
Visit Liz Voss’s last blog at San Antonio Homes.
Steph,
Great article..as I knew it would be. I would like to throw out one more suggestion too. Since I’ve decided to be a networking machine as of late I’ve been researching networking effectively and a tip for folks that may be new to networking is that right now it’s NOT about you.
So when you meet folks to network with at your meetups (great tip Shae) or bigger REI meetings or chamber meetings or church or wherever….it’s about them. Ask them about them, their business and anything else you can think of (people like to talk about themselves.)
Don’t try to sell them on you just yet….eventually, they will ask about you, if you show enough interest in them.
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