The #1 mistake new investors make in real estate

There are many mistakes that we all have made, and will continue to make, while investing in real estate. It is all part of the journey. You can ask 10 investors what their number one mistake was and you will most likely get 10 different answers. But, you ask them all "What do you wish you did differently when you started," you will most likely hear the same answer, "I wish I had started investing sooner!"

The #1 mistake new investors make is spending thousands of dollars attending boot camps, buying coaching, books, and tapes but then not “Acting” on that expensive education. 

I am amazed at the amount of new investors that I hear who have spent so much money on educating themselves but have never pulled the trigger on a deal. Not only is this a waste of money but, you are also making one of the biggest financial mistakes you could make, in my opinion. Now, I am not one to throw stones. Believe me, I consider this the biggest mistake that I have made. I let “Fear of failure” and “Fear of the unknown” hold me back. I had to have a back up plan for my back up plan, a pivot strategy, three business plans and three exit strategies...talk about exhausting and non productive! I didn’t pull the trigger because...well, I was scared.   

Thankfully, what finally got me to act was realizing I had to take “Action”, embrace the fear and the unknown or come to terms with my own induced Einsteinian definition of insanity, which is “doing the same thing over and over again while expecting a different result.”.  

What step did I make? I set a goal and a timeline to close on one deal and told myself every day that no matter what, I was going to invest in one property by the date set...period. I didn’t care if I made money on it or not. 

I am grateful for finally taking action, because otherwise I wouldn’t be where I am today and on track to financial freedom.

Morale of the Story...Don’t let fear of the unknown keep you from taking action!!!!!

Stay tuned as next week I will be posting about the #2 mistake new investors make.

One Investment Away…