subject: William Tingle - Your Success in Real Estate [print this page] Making it in real estate isn't as simple as 1, 2, 3 - although if you really focus on building your skills, it often can be. Entering any new career path or new skill is never that easy. Why? Because of the "pain period" - the initial period where your mind is making the adaptations necessary to take on the mindset of someone who is successful in a new endeavor.
This pain period, for many people, is caused by something they don't have to let rule them - fear. That simple word has been the undoing of a lot of people who might have otherwise been successful in whatever they were trying.
But why fear? What does fear have to do with real estate investing?
Like in any other field, real estate investing is more about you and your attitude than it is about the actual tools and techniques you use on the path to success.
After all, it's you who has to use strategies and make them work.
That's why fear can be such a powerful thing - but only if you let it.
Moving past fear in real estate means that you'll have to take on a number of different attitudes. Those include:
1. Understanding the necessity of risk. If you fear risk, you'll never make it in real estate. But really, understanding risk simply means that you're able to crunch numbers and think about things with your head - and not your heart. You have to take risks if you want to make it in anything, and real estate is no different. As you move through your career in real estate and build your tolerance to risk, you may find yourself doing things that would have amazed you when you first started out.
2. Outside-the-box creativity. Sometimes you simply have to think outside the box if you want to make money. This can include tools like a "Subject To" real estate transaction, in which you take on the mortgage payments of a property in exchange for a small up-front fee. Two different real estate investors can look at the same property and think of completely different ways to make money off of it.
3. Self-confidence. You don't have to turn into a greasy used-car salesman in order to make it in real estate. But you do have to learn how to project self-confidence by finding that confidence within yourself. The more you conquer your fear, the more self-confidence you'll build.
Becoming a real estate investor is not as scary as you think. Mastering your fear, however, does not mean that you'll necessarily find a way to beat that fear without confronting it. If you can move through your fear, you may have a bright future indeed.
