Have you thought that you’d like to get into the real estate market?
Have you seen this as a way to get a solid portfolio that eventually would give you a great retirement and a passive income?
Have you scanned the paper, the net, dreaming of what these investments could do for you?
If so, what has stopped you?
There are 3 reasons why people don’t move ahead with this dream.
- Knowledge
- Finance
- Fear
Now there are list subheadings under these 3 reasons
The first one is Knowledge which include:-
- You are a procrastinator
- You are a perfectionist
- You lack confidence
- You analyse to the point of being paralysed
- You are not committed to learning
- You have poor priorities
- You lack organisation
- You just feel overwhelmed
The next issue is Finance, What stops you in this area?
- Your lack of knowledge of the market
- Your ability to negotiate
- Your fear of bankers
- Your inexperience of finance
- Your lack of confidence
- Fear of losing you money
- A misunderstanding of what money is?
- You feel overwhelmed
And then for most of us there is fear?
What are we fearful of? There seem to be 2 major turkish citizenship by investment fears. Which group do you fall into?
- Fear of failure? What will people think if it doesn’t work? Will I end up with nothing? What if I want to sell and I can’t? What is your self talk on failure?
- Fear of success? Some of us fear success and what it will do to our lives. Again, will people still like/trust/be friends with me if I’m successful? Will I be able to manage the success
OK! What can we do about it?
- Realise that people aren’t thinking about you. They are thinking about themselves, just like you!
- Other people won’t pay your bills, educate your children, feed or house you. It is your responsibility. Get going!
- Do research on finance. Go and talk to bankers, it’s like shopping. Talk to finance brokers. If you don’t have a cat, don’t buy cat food! Don’t buy what you don’t want!
- Get educated. Knowledge is power. Knowledge gives you a feeling of control. Read. Real estate people have freebie evenings. Go to a few and pick through what is truth.
- Keep an eye on the real estate sites so you get a good idea of values, time on the market, what is good buying, areas that are good.
- Learn to negotiate. Don’t worry about what the salesman is saying about the price, the owners, and the market. Set your price, go in a bit lower so you have a bit or ‘wriggle’ room. Stick with your evaluation.
- Negative sentiment in the market can be helpful!
- Don’t get emotional about the property. Properties are like buses, another one will come along tomorrow! There are plenty of opportunities.
- Don’t beat yourself up. ALL business takes time!! But remember, at some stage the rubber has to meet the road, there must be action.