We all come hardwired to experience fear, and there is a good purpose for it. The human brain has two fear regions. One of them is built to make us take substantial action, such as a very great real estate short sale, foreclosure or deep discount endeavor – the fear of loss of major real estate profits. The other can make us think things over before we act. This fear should go into the class of ‘paralysis of analysis’ in real estate investing.
In current times we almost never confront “fight or flight” instances in the most primitive of environments, but we are nonetheless wired with these adrenalin glands just waiting to fire.
For a lot of people who tend not to choose to take risks, getting their adrenalin glands pumping, there’s a low-level background fear always lurking in the subconcious. It makes up for the “act before thinking” fear. With a constructive real estate investing education, this will enable one to accept educated risks hence taming ones fears so much more.
Some real estate investors have literally certainly not bought real estate investment developments in years because of an irrational fear.
However for many people, this secret fear fosters negative emotions such as anxiety, depression, lack of self confidence and self worth, and it prevents us from taking the actions that will get us closer to our goals in the real estate investing business.
If we all don’t control or “manage” this fear, it will control us. It’s impossible to accomplish our dreams in real estate investing if we don’t. It’s this fear that causes us to continue to be in our comfort zones. And you know precisely where that road leads to.
The initial step to controlling your fear is getting aware of it and once it rears its ugly head. Just becoming aware that you might be feeling fear will reduce its intensity very much. For example, I still get nervous when I’m phoning a prospect for the 1st time, but as soon as I become conscious of it, my worry level falls.
If you have the knowledge and you really desire to do this business, but haven’t pulled the trigger, read on. Fear and faith are the opposites of one another. If you’ve got the faith that you are going to achieve with the fear that you can’t, it will always overlap. Way down in your heart, you do believe you can do this, don’t you? If you didn’t imagine you could do this, you wouldn’t be looking through this article, right? Would you spend the time learning about this business if you didn’t truly believe that you could do it?
Here are some details to overcome fear in the real estate investing business:
1. Have a mentor. You do not have to join a high-price training program to mentor you. Your mentor can be a real estate investor at your nearby real estate investor club that you struck a good note with. Ask them if they mind if you give them a call once in awhile with a question or two. They probably won’t mind if you call them once a week and talk for 10 minutes. Another option would be friends in the business. Some individuals do have the luck (or have put in the effort) to have a friend or two in the real estate investing game. A good real estate education program or course will also help here.
2. Another way to handle it is through meeting someone in your area who is doing deals in real estate investing. Just let them realize that you get deals coming across your desk, and you are not sure if they are good. Let them know that you are looking to do your first deal. Ask them if they mind if you give them a phone call to run it by them and maybe you can do the deal together and split it? Let them know you will do the work but you just require someone to run it by. A lot of investors will take you up on it and will even tell you they don’t need your money.
3. It could be a realtor that functions with investors or even a landlord that owns a handful of homes or apartment buildings that has been around some time. It could be a mortgage lender. Funding is a enormous part of this business. No person knows the mortgage business more than a mortgage lender. The key is to get out in the marketplace. Do not sit in your office or sit in your living room contemplating about all of the problems that could go wrong. You’ve got to network. If it weren’t for networking, I wouldn’t be in the business. I went to as many real estate investment clubs as I can and I got to meet people, and slowly over time I all of a sudden knew the business. And you are always learning. You can’t be afraid to get out there, reach out, shake someone’s hand, and get to know them and ask some questions.
One of the finest acronyms known on the motivational speakers circuit for fear is:
False Expectations Appearing Real
Make sure you get a sensible real estate investment education to help you convince yourself in having high expectations in your real estate investing achievements and help eliminate doubt which can hinder your success.
Think optimistic, think successful and achieve success in real estate investing.
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