How to feel confident?

Question

How do you get to become confident on throwing the money to your first investment?

I heard some stories of people from out of the US investing in properties and after a few months the property is not yet at their name, stolen. What's the best way you can have a safe legal protection to go on with that first deal?

Thanks.

Ariel.

Chris T. · Answer

@Ariel G.

Boots on the ground - people that you can trust.

Use a reputable attorney and a trusted title company. Trust but always verify.

By setting up different check points throughout the buying process, you should be able to have someone catch something if it's a scam.

Chris T. · Answer

@Ariel G.

the legal part is obviously the lawyer / title company. Their jobs are to make sure you get a clear title and everything else gets recorded / checked out. There're standard legal contracts here

However, that doesn't mean you're getting a good investment. You have to ALWAYS do your due diligence, and get the right people on your team.

There is no such thing as "stopping to find more confidence".  Start by getting educated first. Do NOT blindly throw your money around or jump at a leap of faith.

Every investor has either lost money if they have done it long enough.

Good luck!

Ariel G. · Answer

Thank you @Chris T.

As Im beginning to unsderstand, most of it is about the lawyer and title companies, correct?

You are creating a contract thats saying the property will be transfered to you at such and such price when such and such conditions are met. So the owner or the turnkey company that is selling you wont have a chance to con you, the lawyer company wont risk their reputation with a contract that got you into a big problem, correct?

So could we say this is the point we stop finding more confidence? The moment you just have to jump at the sea and take a chance? Find those players, and after that "The rest in heavenly", or is there other things to be done before throwing the ball to the sky?

Thanks.

Ariel.