How to Stop Being Afraid to Make Your First Offer On A Property

Hello friends, how are you doing? So I’m just going to jump right into it. A pretty consistent theme among the messages and emails that I’m getting are from new investors that are essentially asking the question of, “Hey, I get it. I’m interested in real estate investing. I like your one rental at a time story. Thank you for doing what you’re doing, but I’m nervous or I’m afraid. I’m stuck. What can you do to help me?” First and foremost, my channel @onerentalatatime is really dedicated to helping new investors. I’m thrilled that everybody is asking me these questions and it means that what I’m trying to do is working since I’m seen as someone approachable. What I thought I would do is actually read to you just a subsequent email that I received:

“Hi, Michael. I’m a big fan of your podcast.” Did you guys know that I turn all these videos into podcasts? The podcast is called One Rental At a Time. “You are truly an inspiration.” Thank you very much. That’s nice to hear. “I know that you’re a busy man and I understand if you don’t reply, but I’m having a dilemma in regards to buying my first rental property.” Hopefully, you all have seen that if you leave a comment or send me an email, there is a 99% chance that I will respond. Pretty much the only people that don’t get a response are the ones throwing F-bombs around and putting out some kind of hate speech. If I see those I simply delete them, I won’t reply to those. Other than that, I reply to everybody. Sometimes just with a thumbs up or a thank you, but I certainly reply to everyone. So I’m going to reply to you. Actually with a video, or even better a podcast, because you’re probably going to listen to the podcast. “I’m honestly afraid to make the wrong decision and would greatly appreciate any advice you could land. -Michael.”

Here’s the deal, the first thing you should know is that most new investors, if not all, are absolutely in your situation. You shouldn’t beat yourself up for feeling nervous or afraid. You’re talking about potentially making the biggest, or at least the second biggest, purchase of your lifetime. You are signing up- if you’re following my model, at least- for something that you’re going to own for decades. You’re going to have 30-year money in, in most cases. That’s a long time to sign up for something. So you should feel nervous, and you should be in a dilemma. You should be apprehensive unless you’ve done what I have. What I am going to tell you is what I teach all of my students and the advice for you is no different: You need to learn your market. I go through how you can do it in the course, but essentially you need to pick an asset type and then look at that asset type every day for at least 90 days.

You need to track it and you need to understand it. Then over the course of the first two or three weeks, you’re going to start to understand what an average deal is in your market. Next, over the next 45 days or so you’ll start to understand, Hey, there are some outliers, right? If the average is 4% or 5%, this one’s a 6% right? And then you’ll understand that every once in a while a 7% or 7.5% comes through. The only way that I know of to be less apprehensive, scared, or nervous, is to build your confidence. I call it a skill to find good and great deals. Nearly 95% of the deals on the market today are not for you and me, Michael. They’re not good deals, and they’re certainly not great deals.

Unfortunately, we have to sift through all of those to try to find the good and great deals. It really is that simple. And I know this because I chose to invest in a market that’s two and a half hours away that I had never even visited. I knew no one, I had never even spent the night, and it worked out. Now I was pretty focused and I looked at it every day for 10 years. But that’s how you go one rental at a time, right? We got our first one on Norris Drive and nine months later we got another one and then a year later we got a third. That’s the path that you should be on. It’s difficult but you need to do the work. The only way to gain confidence is to do the work. And of course, if you need help and understanding how to do it then you can just get the course.

If you want to save a little money you can use the coupon code, BOOK20. You get an autographed copy, you save $20 and you’re only gonna spend $179. That’s less than the cashflow from one month for a rental property. I priced it at that price on purpose, and then Michael or anybody else who takes me up on this, you’ll also get added to a private Facebook group where I interact with students daily, so you can put additional questions there. You could talk about deals or you can do your homework in the course that you’re going to sign up for. Yes, there’s homework to do, but what you can do is post your answers in the Facebook group, and I and others will interact with you and help answer questions.

So in essence, being nervous, being apprehensive, and feeling stuck is absolutely a normal feeling. Not doing the work required to get unstuck or not be nervous is what is not okay. You need to be able to put in the work so that in 45 to 60 days you could tell anybody in your network, significant other included, that you have found a good or great deal because you’ve looked at 20, 30, 40 or whatever it is in your market. I hope to see you sign up for the course, I think you will get some huge benefits from it. If anybody else is nervous or stuck, the same goes for you. I built the course on exactly what we did starting with one house going forward, and everything that’s in the course is still exactly what I do today. I’m not somebody who is going into the new markets, and I’m not someone doing syndication. I am just sticking with one rental at a time because it works for me, and I hope to see you sign up. All right, everybody have a great day and hopefully, this made some sense. Thanks!

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