Stuck in "ANALYSIS PARALYSIS" and "FEAR"

6 Replies

I am wanting to start a real estate wholesale/investing business. I've never done any real estate wholesaling/investing before. The fear of failure is lingering in the back of my mind.
1) how do overcome this fear
2) how do I differeniate to true REI vs the 'scammers'?

Hello Andrew,

I can understand the fear you are talking about. I just finished a good read on addressing that paralysis in Gary Keller's book, Millionaire Real Estate Investor. He mentions that having a criteria of what you are looking for and sticking with it can help a great deal in limiting the risk you take when you invest.

What is your criteria? 

For me, it is 2br/1b sf houses in 4 different zip-codes where I grew up and spent time. I am after properties in good condition for the express end game of renting them out.  I'm after houses in a certain price range, with a certain discount and projected cash flow. 

Best to you,
Josh

Welcome!

While we are buy and hold investors and not wholesalers. Fear is apart of starting anything new. I know that buy and hold was not that nerve racking for me but starting my website/blog has been "very" stressful on the side because it is out of confort zone. The key is just to get started! Failure is not getting started, yes their will be mistakes. Remember there is a reason why no one is born as bill gates, a self made man!

So through yourself in the rank and get started! There are SO many great resource on this site. From podcasts to people walking you through what they did to blog articles offering in-depth advice to posts where people will help you with the "now" issue. All you need to do is grab hold of the resources and jump in :)

Which is easier said than done but remember baby steps. Do one thing at a time. This allows you to go fast enough to be successful while slow enough to do a course change as needed! 

Andrew,

The key to overcoming  your fear is both education and who you spend your time with. If your support system at home is negative towards this venture,  it will kill your enthusiasm.  If you can find a local real estate investment group to network with, it could help with both of your questions. 

Happy Investing

Derek Dombeck

Just do it! Dive in and stay the course no matter what! You have to honestly believe in yourself and what you are doing. When I feel doubt ,2 things come to mind-this quote from finding nemo:

"just keep swimming, just keep swimming"-Dory

And this lovely short poem;

“There is freedom waiting for you,
On the breezes of the sky,
And you ask "What if I fall?"
Oh but my darling,
What if you fly?” 
Erin Hanson

Keep swimming,  flying , whatever! Just keep moving forward, and don't stop until you've reached your destination. Hth

Originally posted by @Derek Dombeck :

Andrew,

The key to overcoming  your fear is both education and who you spend your time with. If your support system at home is negative towards this venture,  it will kill your enthusiasm.  If you can find a local real estate investment group to network with, it could help with both of your questions. 

Happy Investing

Derek Dombeck

 We have a winner!!...on all points.

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