I hate this website.

114 Replies

I have realized I really do hate this website. Let me explain.

I am brand spanking new and just learning at this point. I haven't been able, due to family situations, to truly do more than just  learn. (and I am getting scared that might be all I do.) I live in Utah and real estate here is not cheap from where I stand with my current level of knowledge. I have been excited, discouraged, excited again, and now feel kinda hopeless.

This website is terrifying. I had this misguided notion that I was brilliant deciding to get into real estate. Such a novel concept and I would in a small tiny group of people that are as brilliant as I am. Then there is this giant empire of a website. I am surrounded by so many much more passionate, experienced, smarter, better connected, and all around more serious people that are all going for the same goal.

How can I even get my foot in the door with so many people in the business? This website has set me straight on so many of my misconceptions and scared me, I worry, out of the real estate business before I started. How on earth do starters not let all these things get you discouraged? Any advice to keep from dying a thousand deaths before the battle is fought?

Every one at some point purchased their first property. You just have to push past the fear and anxiety. Buy a property. See if it is for you, then eventually move onto your 2nd property. The first one is always the hardest.

Medium logo lf re cire box white bboxRussell Brazil, Russell Brazil - Associate Broker | [email protected] | (301) 893‑4635 | http://www.RussellBrazil.com | MD Agent # 648402, DC Agent # SP98375353, VA Agent # 0225219736, MA Agent # 9052346 | Podcast Guest on Show #192

You just don't want it bad enough. Can't think of any more of an explanation necessary. The fear of failing drags you more down than the passion for success. Not much we can do about it, the tools are all set for you and you are much more fortunate than people who have built empires before all this information was available. If with all this guidance you still feel discouraged then I'd say stick to your day job or hire one of those 19yr old life coaches on YouTube to maybe tell you how easy it is to become a millionaire to maybe help you get the ball rolling.

Cheers

Medium gold homesGabe Amedee, Gold Homes LLC | [email protected] | FL Agent # 3388321

The first thing you need to do is quit looking at real estate as a zero sum game.  It's not a competition.  He who dies with the most houses is not the winner.

Create a plan and work your plan.  Be dynamic enough to pivot, if needed.  There are enough deals on the planet for every person who legitimately wants one.  

Will yours be the BEST DEAL EVER???  Maybe not.  Maybe so.  But I can guarantee you that if you are looking at this as a competition, you will be miserable.  There will always be somebody doing more or who got a better deal than you - maybe even at the house next door.

The other cool thing about real estate is that just because I got a deal, it does not mean there is one less deal for you to get.  It's possible that you will bring some value to my deal and then we both move a step closer to our goals.

So look for places where you can add value to somebody else.  Helping others can definitely help yourself.

PS - Family issues and financial issues are speed bumps, not road blocks.  They need to be carefully navigated through or around, but they shouldn't be halting all progress completely.

Medium cluebussol logo3inLinda Weygant CPA, Clue Business Services, Inc. | [email protected] | Podcast Guest on Show #244

@Russell Brazil Thank you. I know I am just feeling a bit more weight right now. Your advice is as helpful as it is simple. I really appreciate you taking the time to message on here. 

@Linda Weygant Thank you as well. You are right about how there are enough deals for everyone and I do know that it's just hard to accept sometimes. You probably have a much better idea by looking at working with someone to get started. Your advice was just what I needed to hear and I was hoping to hear when I thought about posting on here. Again thank you. I appreciate your time.

You need capital, invest where you're capital will work. If you don't have enough or you don't like what it gets you find a skill set to either get you more or provide value to someone with it. Deals are always out there, it's up to you to see them by understanding what makes them valuable to YOU.

What's a deal to me may or may not be one to you, our min/max will likely be different even if we somehow went after the same house. 

Self confidence is key. Sounds like  you're not believing that you can succeed in this business enough. We've all been at the point. But he who thinks he can, and he, who thinks he can't, either way, are right. It's all up to you. I'm a single parent of two, without a support system, (not even family), and I just jumped in, and it worked. Still does. 

There are three things you must know, and fully understand, in order to be successful...and not all REI know and understand these three things...although all think they do.

1 - How Money Works:  This tells you "how" to invest.  This is how you get your money in...and out (very important) with friends (profit, and cash flow).  Entrance and Exit strategies...and flipping, holding, etc...are not E/E strategies...they are ways to execute them.  The E/E refers to your money...not you.  You're just along for the ride.

2 - Market Analysis:  This tells you "where" to invest. Notice the word "Market"...not property.  If you understand how to analyze "markets", you will by default be analyzing EVERY property in that market at the same time.  The idea is to find the right "micro" market...and stay there...until it changes.

3 - REI/Biz Plan: This tells you "when" to invest. This is NOT, "I want to flip 3 houses and buy one rental per year". That isn't a strategy, plan, or a goal. In order to develop this PLAN, you must first understand the differences between Goals, Plans, Milestones and Steps.

You learn all 3, and treat them all with equal reverence, (all three are equally important), and you'll win...and, you will turn your "fear of investing", to a "respect for the risk"...big difference.

You're right, you probably can't make it, and will fail like thousands of others who started making excuses before they even got started.  There's no crying in BP... If you want it bad enough, you'll suck it up and GRIND!!  If not, you'll keep making excuses.  I doubt there's very many other investors in Orem, UT, I'm sure there's some in SLC, but that's no reason you can't outwork them. 

Medium small 4l4s sold adJeff Filali, 4Lease4Sale.com | [email protected] | (918) 516‑8885 | http://www.4Lease4Sale.com

This is a great website with many great contributors. There is LOTS of great information. Education is the key to helping to avoid mistakes. I recall my first purchase and I was more fearful than OJ at a parole hearing!

Now you know that RE is not that simple, sign a contract, become wealthy. You also know that all markets are different. You also have a great amount of knowledge available on financing, renting, flipping, whatever your desire is. RE can build tremendous wealth and is NOT an overnight get rich business. Learn as much as possible. If you need local help, find a good agent in your area that is aligned with your needs. You may have to filer through some to find one.

No company avatar mediumJohn Thedford, John Thedford | 239‑200‑5600 | http://www.capehomebuyers.com | FL Agent # BK3098153

@Matt K. Great advice. It's all very logical about deals are a matter of opinion and circumstance. I have been in my own home for almost 10 years now and have a lot of equity that I can play with so I have a bit of money to get started with. I need to take your advice and look at this a lot more personal and find my own value where I can. Thank you and thanks for your time.

@Monika Smith You are absolutely right. I am not feeling that confidence right now and my excitement is waning as I am learning more. Belief is key and I would hate to be the guy who ruined things from the start just because I decided I would. On another note I think people like you are super heroes. Being a single parent especially without a support system and not just giving into despair is super human. Thank you for taking your time and posting.

I had this misguided notion that I was brilliant deciding to get into real estate. Such a novel concept and I would in a small tiny group of people that are as brilliant as I am. Then there is this giant empire of a website. I am surrounded by so many much more passionate, experienced, smarter, better connected, and all around more serious people that are all going for the same goal.

#egocheck

Yeah this happens no matter what you do if you want to be good at it. You find out you aren't that smart, good, or talented, You're just the next guy to do it. 

So get to grinding out some education, talk to people, get obsessed. The reason you shouldn't get discouraged is because this industry WORKS, you have to know it works. It's pretty simple, cheap to get started (for many), large margins for error, and high profitability. you want to feel brilliant, you gotta step it up!

If you are really worried take a very slow and cautious approach like "aim small miss small."

Try renting a room out in your house, that will generate a little money for you and you can begin to save come of yours for investments. Then start small again, and slowly build confidence...repeat..repeat...repeat and then one day after many small deals you look back and you're like damn I made some money and this isnt bad as I thought. @Joshua Johnson

I was the same way, kept thinking that I didn't have the connections, money, time, or whatever other resource. After some major life events something switched inside me and I realized I'd always be slaving away just surviving life and never enjoying it unless I found a way to improve my wealth. I bought a cheaper 4-unit and moved into one of the units. The way I looked at it, I would need to pay rent or mortgage anyway, I may as well have someone else pay it for me. 

Then I started researching, found BP,  and realized how much more there is to investment real estate. I only have two years experience, and am still very new to this, but instead of getting discouraged by all the people on here with more money, experience, and connections, I look at that as a goal or roadmap for where I want to go. I feel like I'm a little behind where I'd like to be at this stage of my life, but I figure I can try to catch up.

I think there are enough deals to go around, and the way I view it is that the richer more experienced guys don't want to bother with the smaller profits, they want bigger returns. My hunch is that for someone with $100 million they are able to invest in projects with larger returns, so I may have to take properties with less profits, or lower cap rate, but I don't mind because it's still more that I had before and someday I will have the $100 million empire, and will develop a network and connections, and will be able to focus on the bigger profit projects.

Also, don't listen to the people saying you will fail, they are trying to psych you up and get you to say I can do this, I'm going to stop making excuse. It's a reverse psychology thing, it works on some people, but not everyone. I am a worrier and planner, I can find 5000 reasons something won't work, they approach wouldn't work on me because I would point out the many variables that could cause me to lose all my money. What works is start small, 4-units or less, fairly cheap. I know real estate markets vary, and your location may be expensive, so this may not work for you, but I tried to find something where I could swing the entire mortgage in case I couldn't find tenants. However, keep in mind, you should be able to get tenants to cover most of the mortgage, so you can probably go slightly more expensive than you would on a single family you are planning on living in yourself. It's easy to get psyched out by all the horror stories, but from personal experience, I inherited a tenant from hell, and I survived, you will too.

Good Luck!

Start small. My first purchase was a condo, which initially was for personally use but I had to move out of state so decided to make it a rental. Seemed overwhelming at first but looking back I let my fears take the best of me.
Now I’ve moved on to multi family and have brought on a friend as a partner, which gives more piece of mind as there are two set of eyes reviewing deals.
Not sure if you have the possibility of partnering up with someone, even if the deal is small, but the main focus would be to learn from the first purchase rather trying to make the most money.

@ Joe Villeneuve That is some great advice. I love the concept of three basic things that you can focus on and they may not be easy but they are simple. I will have to do some serious research coming from those angles. Thank you for taking the time and giving me something else to consider. 

@Jeff Filali tough but right. All very good points and probably, no matter how much I don't want to admit it, just what I needed to hear. I hope you are right about my area not being saturated but even if it is I will be pissed if I don't try. Thanks for taking the time to say those things.

@John Thedford Beautiful visual with the OJ thing. It made me smile. I think I will be the same with being scared with my first deal but as with everyone else you are right it just needs to happen. Thank you and thanks for making me smile about it.

@Alexander Felice Sorry about the over the top about the "brilliant" idea. I wanted to push the idealized thoughts I had about RE. I really am not that narcissistic. "You're just the next guy to do it." is so profound to really think about. Thank you for taking the time. Lots to think about and I appreciate it.

@Chris Armstrong Brilliant advice. I have a really hard time to take the small cautious approach. I always want to make the big leap and take on too much. Aiming small is some advice that I need to take to heart. Also great ideas on how to take those small steps. Thank you for taking your time to help. I really appreciate it.

Probably should just stick to something easy like playing the lotto or something, because this game aint easy breezyyy.

Originally posted by @Joshua Johnson :



@Alexander Felice Sorry about the over the top about the "brilliant" idea. I wanted to push the idealized thoughts I had about RE. I really am not that narcissistic. "You're just the next guy to do it." is so profound to really think about. Thank you for taking the time. Lots to think about and I appreciate it.

Certainly no insult intended. Just some perspective I understood the vibe of your post  ;)

RE isn't hard, you just have to keep putting forth small steps that have compounding positive effects. You'll do great.

Originally posted by @Joshua Johnson:

...I found Bigger Pockets on my journey to learn as much as I could and then my friend that is also trying to learn mentioned the podcast. I thought the name sounded familiar but didn't realize it was the same until I saw my bookmark on my computer.

... Honestly I am just excited to be here right now. I don't have a lot of people that I can talk real estate with and I am so curious and just want to learn. I have held off so far from buying (because all that I have read is you don't really learn until you just do it) because I am trying to convince my wife that real estate is a good place to invest. (Any tips on helping a significant other to get on board would be welcome.)

Anyways, I hope to be a helpful happy part of this community. Thanks for reading.

Josh

P.S. Let me know if there are any other things I have missed that are important to mention. Thanks for the help. 

Read what you said only a few months back in your introduction. You've landed on a goldmine along with everyone else here. Be happy you found it and use it. Sulking is useless here.

Wishing you luck.

Joshua, I actually feel quite the opposite.

I have always looked at Real Estate from the outside, seeing it as an untouchable field which required some form of expertise which was seemingly not achievable for me. After finding about Bigger Pockets, listening to a few podcasts, reading the beginners guide; it's definitely something we can all get into with the right mindset.

While you may feel that you are priced out of your current area (and I currently feel the same way), I bet there are still properties within a few short hours from you that would be more than acceptable for your first rodeo. 

Keep learning and let's run this race together, brother!

@Joshua Johnson ,

You gotta realize,  the first property is by far the scariest!!!!   I remember grabbing my partners hand when we learned our deal got accepted, and we had the same "OH ,snap--this is real!" look on our faces.   Totally normal!    I do agree with others, it's a confidence game-- will stuff happen, heck yeah it will!   The difference is, will you figure out how to fix it?    It's not a competition, there's enough success to go around!    Don't compare, b/c it's not apples to apples!!!  Some people are kind of lucky based on geography where houses are cheap, and others create there own luck and invest where it is cheaper and make it happen.  

 If you're nervous, start with a baby step of a turnkey property,  see if it's a good match.. and then get another one, maybe one that needs more work.   Know your strengths and play off them.   That's what's beautiful about real estate, it's not a one-size fits all, and it can be tailored to  your specific needs.       Start small, get your feet wet, and move forward. 

I think in life there are people who HOPE stuff happens, and there are people who MAKE stuff happen.    Which are you?

im going to play the hardass Asian but if that's how you view everything, you will never do well...in anything. Everyone here is going to be nice, but I'm going to tell you do man up and do it or don't. if you half *** this business, you'll fail without a doubt.

there's a lot of member on here but 80% of them will not do one thing to start so if you even make one purchase, you're already ahead of the game.

Originally posted by @Joshua Johnson :

I have realized I really do hate this website. Let me explain.

I am brand spanking new and just learning at this point. I haven't been able, due to family situations, to truly do more than just  learn. (and I am getting scared that might be all I do.) I live in Utah and real estate here is not cheap from where I stand with my current level of knowledge. I have been excited, discouraged, excited again, and now feel kinda hopeless.

This website is terrifying. I had this misguided notion that I was brilliant deciding to get into real estate. Such a novel concept and I would in a small tiny group of people that are as brilliant as I am. Then there is this giant empire of a website. I am surrounded by so many much more passionate, experienced, smarter, better connected, and all around more serious people that are all going for the same goal.

How can I even get my foot in the door with so many people in the business? This website has set me straight on so many of my misconceptions and scared me, I worry, out of the real estate business before I started. How on earth do starters not let all these things get you discouraged? Any advice to keep from dying a thousand deaths before the battle is fought?

 I honestly think this website is great for beginners.

There are a lot of ambitious people on this website, I am one of them, but we are all at different stages of our lives and our investing careers. My advice to you is to latch onto someone who is farther along in their investing career and ask for their help as you get started.

[email protected] | 402‑965‑1853

You are now smarter than 90% of the new people that get into real estate. They say that "the truth will set you free" after it pisses you off and possibly scare the s**t out of you. You have what is called a known unknown. You know that there are a lot of pitfalls and variables not only beyond your control but are waiting for you and you won't know them till they smack you. That's actually a good thing. Now go find a deal that makes sense financially and just as important instinctively. Buy it. Don't bet the farm. And make it work. If that whole process doesn't work for you, get out even if you just break even or loose a little and move on. But if you do break even or even make some money ( or even loose some money but earned a very inexpensive education) while the ride was just one great thrilling adventure, well then welcome to the club. Keep buying, fixing, selling and renting and enjoy the ride. 

Originally posted by @David Zheng :

there's a lot of member on here but 80% of them will not do one thing to start so if you even make one purchase, you're already ahead of the game.

 I agree with exactly what Dave said.  All the knowledge, money, and resources can result in a dead end if you don't create a purpose in your life, the "WHY?".  You will need to research, conduct due diligence, and apply your knowledge to this craft in order to succeed.  A good team, time and resources can result in a life that you hope to create for yourself and your family if you want it bad enough (financial freedom).  Look at other posts from people that are working 2 jobs in addition to finding deals.  This business does not create wealth overnight.  It is not a get rich quick scheme, but with time and persistence, you should come out the other side successful in your endeavors.  If you came from nothing and do nothing, then the results will be the same.  Put your plan into action and good luck with whatever you decide.     

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