I just signed up a few days ago but have been listening to podcasts for a month. Enjoying all of the very educational information that's being communicated! I'm very motivated to get things going but I swear the market is so barren and empty every time I look to make a move. It is very concerning. I go back and forth between "I can do this" to "Now isn't the time". This does not reflect the type of person I am though. I've been a construction MGR in oil and gas for 10 years and in the business 21 years. Is anyone else feel this way? I divorced two years ago and have saved while living in an RV and am ready to break out and get things done but I can't shake the feeling of possibly being "out of my lane". Just thought I would test the waters here and see if I wasn't the only one. Good luck everyone!
Residential Real Estate Broker · Paia, HI · Member since 2016 · 479 posts · 311 votes
4y
I would say buy yourself a house hack. If you're living out of an RV, you will be able to improve vastly your standard of living, get rental income to qualify you for more purchases, and enjoy appreciation on your home.
Not sure what you're looking for, i.e. how you intend to make money real estate investing, but deals are getting harder to come buy in this smoking hot market, so I understand your angst.
Real Estate Agent · Saint Paul, MN · Member since 2014 · 384 posts · 401 votes
4y
Fear is natural, man. Buying investment properties isn't for people who want to be comfortable, but it is challenging in awesome ways. Get to the meetups, go to see some projects other investors have worked on and make it super real for yourself. Make friends and GET HYPED! You're going to doubt yourself the longer you stay in your own head - everyone struggles with that. The way to break that internal self-doubt and fear cycle is to just go do it and surround yourself with people who do. You will thank yourself later!
Investor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
4y
all it takes is that first step! now.....all it takes is for you to keep going! ill say this.....it took me 14 months to get my first wholesale deal......and everyone was in my ear saying "youre not doing something right..." etc........
but in that 14 months it was a self development thing for me......i began to read books.....i didnt read a book for leisure until i was 31...........i developed an early morning routine.....i developed discipline.....now im probably the most disciplined person that i know......I get up everyday at 430 am....i meditate....i pray....i have an affirmation journal and a gratitude journal......i fast for 48 hours weekly.....i take cold showers.....i work out.....i do yoga.....etc.......
i say all that to say this......its all a mindset thing......keep pushing!!! always open to connecting
Lender · Texas; Arizona · Member since 2019 · 276 posts · 282 votes
4y
Getting over the fear of the first deal is different for each person. I'd try connecting with wholesalers in your area. I have a list of active Houston wholesalers I'd be glad to share, send me a DM. You might want to try going to a few in person meetups and network with other investors, it could help you overcome that fear to talk to people in your city flipping homes in neighborhoods you are familiar with, let you know that it is possible.
Residential Real Estate Broker · Paia, HI · Member since 2016 · 479 posts · 311 votes
4y
I would say buy yourself a house hack. If you're living out of an RV, you will be able to improve vastly your standard of living, get rental income to qualify you for more purchases, and enjoy appreciation on your home.
Not sure what you're looking for, i.e. how you intend to make money real estate investing, but deals are getting harder to come buy in this smoking hot market, so I understand your angst.
Insurance Agent · TX · Member since 2018 · 362 posts · 175 votes
4y
@Dustin Keating You'll find something. If your actively looking, something will present itself that will make sense for you. A househack is probably the safest way to start. You got it!!
This is a great forum with very knowledgeable members that will help to guide you in the right direction.
If you are looking to connect with other members near you, or want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could use the search feature here: https://www.biggerpockets.com/search/users
I just signed up a few days ago but have been listening to podcasts for a month. Enjoying all of the very educational information that's being communicated! I'm very motivated to get things going but I swear the market is so barren and empty every time I look to make a move. It is very concerning. I go back and forth between "I can do this" to "Now isn't the time". This does not reflect the type of person I am though. I've been a construction MGR in oil and gas for 10 years and in the business 21 years. Is anyone else feel this way? I divorced two years ago and have saved while living in an RV and am ready to break out and get things done but I can't shake the feeling of possibly being "out of my lane". Just thought I would test the waters here and see if I wasn't the only one. Good luck everyone!
I'd say stop reading the site and listing to podcasts. It gives your brain a way to excuse inaction as you'll convince yourself that you just need to read a bit more or listing to a few more podcasts before pulling the trigger. When I bought my first property I had no clue. No books. No nothing. I know you rent it for $x, and if $x is more than your costs your good. So I bought it, I put a 'for rent' ad in craigslist, found a blank lease on google, and I was off to the races.
Investor · Member since 2021 · 73 posts · 48 votes
4y
Hi Dustin,
As a new investor, I often find myself second guessing and doubting my calculations / decisions. Just remember that with real estate, time is on your side. As long as you are investing in a fairly decent area. I actually made the worst ever decision back in 2007 purchasing my first property, by 2008 my property had halved in value. But with time, everything corrects itself.
Also- listening to the podcasts of successful real estate investors, pretty much all of them screwed up one way or another. They all learned from it, and did not give up.
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
4y
Just go do it. Have a no fear attitude and get after it, waiting for the market to correct is not the highest and best use of your time. Build your artillery (lenders, realtors, contractors) so that way when you find something you're ready!