Oh, that’s an easy one. I can answer that in one word. FEAR.
Real estate investment is a great way to change just about everything in your life, but it’s one of those things where doing it for the FIRST time is the toughest. In fact, the second is exponentially easier!
It’s fear folks, plain and simple! And why doesn’t that make much sense to me?
So with all this common knowledge and raw opportunity out there, why isn’t everyone investing in real estate?
Here’s my theory.
So what does one do to face fear and make a change in their life?
Ah, that’s just as easy as the last question. I can also answer that in one word…KNOWLEDGE.
Once properly armed with the knowledge they need, most folks can overcome their fears to the point of taking action.
So, if you are contemplating taking your financial future into your own hands by investing in real estate, FOCUS on one thing for the next 3-6 months. Buy books or courses, go to real estate investing club meetings, visit websites, listen to podcasts and get on discussion groups. Let those things be your action steps for a while. I suspect you’ll eventually be ready to dive into the market with the knowledge you’ll gain.
I have a motto. “Knowledge Always Precedes the Money.”
Bill Manassero is the founder/top dog at “The Old Dawg’s REI Network,” a blog, newsletter and podcast for seniors and retirees that teaches the art of real estate investing. His personal real estate investing goal, which will be chronicled at olddawgsreinetwork.com, is to own/control 1,000 units/doors in the next 6 years. Prior to that, Bill and his family lived in Haiti as missionaries serving orphaned, abandoned and at risk children for Child Hope International.