Posted about 2 months ago Fear of Failure & New Real Estate Investors As a new investor, it's highly likely that your number 1 problem is a (completely legitimate) fear of failure--as would be the case when starting in any new business. You’ve done the researchYou’ve learned everything there is to know about real estateYou have a deep understanding of the marketplace Yet, you are still afraid to take action! What you are doing is a common mistake for many, many first-time real estate investors--you go around and around, collecting information, doing more research, learning about the market, studying any and every piece of information you can find, but you NEVER PULL THE TRIGGER. By doing so, you have put the breaks on your entire business because of a fear of failure. To be successful, you must overcome this fear. One way to do so is by having the mindset that my failures are opportunities to collect feedback that fuels future success. Obviously, part of real estate can be learned by books (i.e. through somebody else’s experience). However, the majority of what you need to know MUST be learned by taking action yourself and playing the game. I don’t know of any real estate investor who hasn’t failed/lost money (including myself)--it’s just a matter of time. Changing your mindset from fear of failure to my failures are opportunities to collect feedback that fuels future success is the key to elevating your potential. For example, you bought a property and try to flip and it didn’t work out. Ok, a major disappointment, but you’ve acquired some very valuable feedback from the experience: you need to be better at analyzing numbers, managing contractors, or this doesn’t match with your skill set, etc. The only way to get feedback that will drive success is by taking action.