@Abigail Timbol You will never be educated enough. I am always learning more. Some of it is just part of the process. Biggest recommendation is don't financially over-extend yourself. Take your time to find something you know will be a great deal. Youll find it. Stay with it
I feel the same way! I'm pushing myself toward the next step though.
@Abigail Timbol I totally understand where you are coming from. I was the kid on the corner selling lemonade at 6 yrs old trying to make a buck or selling my parents stuff in a garage sale early in the morning. That mindset is great to have, but I always find myself needing to not rush into an "ok" deal. You'll find it Abigail. Stay with it.
@Abigail Timbol This is exciting and frustrating for you I'm sure! You will never know it all, but you don't have to know it all to get started. You do however need to know enough about whatever specific strategy you're going to focus on. Biggerpockets is a great place to start getting educated. Do however make sure that whoever you're listening to is someone worth listening to. People go to college to learn how to become a professional doctor, or CPA, or biologist etc...consider finding some sort of actual education for real estate.
@Abigail Timbol That could be a good move depending on what you want to do. That will give you great information and training for selling retail real estate. Don't be thinking that will make you a professional fix n flipper, or landlord, or wholesaler etc. =)
@Abigail Timbol I consider myself a newbie and I hesitate in giving any advise for that reason. I have completed 10 deals and I learn so much throughout the process of each one. I still hinder myself with limiting beliefs of not knowing enough.
While I absolutely agree that you should do your homework and educate yourself as much as possible, you will never know it all and you probably already know enough to take steps towards completing your first deal. Map out your steps, keep and open mind to change and trust yourself. I don't think anyone will ever know it all but don't let that keep you out the game. Excited for you.
Measure twice, cut once
I recommend immersing yourself in books, podcasts, and deal analysis practice. Knowledge leads to confidence. The first one can be the hardest and then the learning curve speeds up dramatically.
@Abigail Timbol when I started, there wasn't all this educational content on the internet. I read one book and purchased a rental property. I learned as I went, finding a solution to each problem as it came up. If you are getting overwhelmed, then you are worrying about way too much at all once. There is an old saying that you shouldn't try to boil the ocean. That is impossible of course, but boiling a pot of water is pretty easy. The point is focus on controllable tasks rather than trying to undertake the impossible.