Personal Development

What was your biggest fear or concern in starting real estate investing?

Expertise: Real Estate Marketing, Personal Development, Real Estate News & Commentary, Mortgages & Creative Financing, Real Estate Investing Basics, Landlording & Rental Properties, Flipping Houses, Personal Finance, Business Management
301 Articles Written
It is always interesting to analyze the thoughts of others. I find that it helps to make decisions, and have seen this to be the case here on BiggerPockets. There is a discussion taking place on our forums about fears that I want to share. Here are some highlights: What was your biggest fear/concern; getting [...] View the full article: What was your biggest fear or concern in starting real estate investing? on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

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Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, educator, and co-author of How to Invest in Real Estate. He started BiggerPockets to help democratize the real estate investing landscape for himself and others, aiming to make it accessible for everyone, regardless of income or education. Today, BiggerPockets is the premier real estate investing website online with over one million members and reaching over 70 million people with the message of financial freedom through real estate investing. Joshua, along with his wife and three daughters, make their home in Denver, Colorado, and spend any time they can traveling, exploring, and adventuring. Read more about Joshua’s story in 5280 and Inc.com.

    savvy
    Replied over 12 years ago
    We have just recently gotten into real estate investing. My biggest fear was buying the wrong property. It took us two years to find the one we purchased, and we probably could have found a better investment in terms of cash flow, but we wanted one that would be within our abilities to manage… something relatively easy to learn on. I’m pretty comfortable with our decision and I think we will be successful. In just four months, we’ve learned a LOT!
    Joshua Dorkin
    Replied over 12 years ago
    Hi and thanks for commenting on our post about your fears. I’m glad to hear that you finally jumped in to investing after a few years and that you are off and learning. Congrats. Just make sure you learn from your mistakes and don’t replicate them. It will take you very far!
    Joshua Dorkin
    Replied over 12 years ago
    Hi and thanks for commenting on our post about your fears. I’m glad to hear that you finally jumped in to investing after a few years and that you are off and learning. Congrats. Just make sure you learn from your mistakes and don’t replicate them. It will take you very far!
    Jason Click
    Replied over 12 years ago
    My biggest fear is something that is still keeping me from getting into the game. Not having all of the answers. I want to get into wholesaling but I don’t have all of the answers as to what to do between finding a potential seller and selling to the end buyer. I could always find a seller and then wing it but that where my fear kicks in… they’re going to discover that I don’t know what I’m doing… I’ll underestimate the repairs, etc. I guess a way to overcome that fear would be to find a mentor or an experienced investor that would partner with me. Who knows? I’ve been sitting on this fence for about a year now.
    James Klobasa
    Replied over 12 years ago
    When I started out…I had all the same fears, but that’s normal… I think the one fear everyone has in common is the fear of ” moving forward”…may sound easy but very hard for most. If your planning in rei is sound, your fears should be very, very minimal
    ren
    Replied about 12 years ago
    my fear is owing the bank money if property should not sell where do i start i need a mentor
    Pete
    Replied almost 6 years ago
    that is one of the many reason i think buy and hold is a lot better than flipping. It is a lot less risky and if you are CF, then it really doesnt matter a whole lot what the house value is (outside of using the equity or if it affects the rent). Reading is a good place to start and communicating w/ someone you know DOING what you want to do or visiting places like this blog.
    Joshua Dorkin
    Replied about 12 years ago
    Ren – To find a mentor, just jump on our discussion forums and start to ask around!
    Johnny Davis
    Replied over 11 years ago
    My biggest fear was failure. Losing money and having my wife suffer because of it. Fortunately, she has supported me in my quest. I am fortunate to have such a supportive partner.
    Pete
    Replied almost 6 years ago
    Combo of repairs/maintenance, emergency and vacancy leading to house of falling cards. It definately slowed me down (a lot) by trying to pay everything off when I first started.