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Cut Through The Fear Of First Time Real Estate Investing

February 04, 2013 | admin | Comments 0

First Time Real Estate InvestingAre you fearful about investing in real estate? Do you know people who say that they just cannot take that final step and go to contract?

It is not an unusual scenario.

One of the reasons that a person cannot make that commitment is because their mind is like a ball of cotton wool.  Lots of threads with not particular beginning or end. Sound familiar?

Getting Focus

Needless to say a person should go out and find out about property investing before they put their hard earned dollars into it, but what does happen, often without the person realising it is that they feel they need to know ‘all about’ property investing before making any decisions.

There are many strategies for the property investor to follow and the reality is that most first time investors are not going to get involved in the more complex strategies initially.  Those that do jump in successfully to the more complex strategies are usually people who have had dealings in the real estate field as salespeople, financiers, builders and the like, who have been in and around property for a number of years. Or, alternatively they have very good mentors, often within their group of friends or family members.

Start Simply and Grow With Your Experience

The best way for a hesitant investor to start who does not have experience with property, apart from their own home purchase, is to keep it simple.  Don’t go trying to learn all the complex strategies. Leave them alone or you will fill you head with ‘fluff’ and not be able to make a decision.

Keep your criteria for purchase simple.

In this case it is not even a good idea to go for a reno property. Maybe one that could do with a paint through, but that is about it. Concentrate on gaining experience from buying your first property, learning about renting it out and other issues that will come to light the longer you own the property.

You could liken jumping into real estate investing to learning to swim.  You don’t find out how swim then immediately go out and take on the bit surf. You gain experience and strength first, then broaden your horizon.

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