I want to invest... I'm terrified to start.
Hey, I'm Sam!
I want to buy my first investment property, but I'm so afraid I'll mess it up.
I've been interested in real-estate for a few years, but for the first time, I find myself in a place where I think it could actually be possible. I have a few grand in cash set aside and a little equity in my current home I could use toward an investment property.
My brother-in-law has seen great success with the BRRRR method in NC over the last few years and I would like to try my hand. I'm just nervous about such a big investment. I fear the possibility that I could overlook something on my first investment that would shut the door on future opportunities altogether.
I have 3 young kids and I'm motivated by a desire to give them opportunities and stability I never had. My wife and I are in our early 30s and we have steady income and a start at retirement. I know rationally, this is a good base to build from, but I can't shake the sense that one bad bet when I'm first starting out could shake that foundation entirely.
Do you have any tips to get over first-time jitters? What mindset did you cling to in starting out?
I've started this journey by reaching out to a handful of real-estate professionals I know and asking for any tips they can give me and it's given me a little more confidence. My goal right now is to learn all I can... that's how I ended up here.
I would love to hear any other advice you would offer a newbie like myself!
Most Popular Reply
I lost 17 units in 07, 08 crash. You've got income, equity, retirement started: your downside is not as bad as you nervous system is telling you. I made it through the crash focusing on doing it better this time around. I could see my mistakes so I improved on them. Wholesale a couple of deals to get some reps under your belt. It's minimal risk but good earning potential and great experience. What if you get it right on your first bet?