This is your life. You have decided that real estate investing is something you want to do. But…
Are you sinking or swimming?
Right now, I am teaching a 58 year old friend to swim. I can see his fear. He is thinking, “What if I drown?” or “What if I can't do this and I look silly?” We all have fears about uncertainties; fear is natural and good—it can keep us out of trouble! But, when fear controls you, when it stops and paralyzes you, when it keeps you from success, it is a problem.
Remember: There is no such thing as a dead end.
Your fears can be conquered easily through calculated action and baby steps.
How is your business like learning to swim? Like my friend, you probably have fear. Maybe you fear loss of financial security or not being able to know a bad deal from a great deal. Maybe you fear failure, or you fear what people will think if you make bad decisions. Maybe you even fear success. The problem is that fear will wear you out and kill your drive. Just like the swimmer, you need to know when to swim and when to float. You need to learn to trust the system and yourself.
In order to trust, you need to build a base on which to put your feet—you don't want to jump from the diving board right away. One of the things you have to do before you jump is research properties. Before you trust, you need to know the cost of repairs on a property because you have to leave enough meat on the bone to allow an end buyer to profit. If your repairs are off, then they won't buy. If your business model is buy-fix-and-sell, then you need to be very tight on the cost of repairs, because this is your profit margin. Knowing the expenses will allow you to make an offer and sell for a profit.
For some people, calculating repairs seems difficult. But it is very easy!
Here are some simple but tried & true actions that you can take with confidence:
So, the question remains: will you sink or swim? I recommend that you do what my friend is doing to learn how to swim; get a coach. Have someone who knows how to do it help you.
Remember, the best education is the one you pay for! You can pay for your education via a coach or mentor, or you can go to the school of hard knocks. If you want to swim in the real estate business, you need a coach. You need me!
I want you to be wealthy! I do mentoring and coaching, and I am looking forward to meeting you and helping you to wrap up 2015 successfully and enter 2016 strong!
Invest in YOURSELF and your business and contact me for affordable, 1 hour, on-line coaching sessions four times a month at low cost of $99 per month.
Source: Will You Sink or Swim?