subject: Reiwired: Facing Real Estate Investing Fears [print this page] A lot of people are afraid to try real estate investing because of FEAR, or false evidence appearing real. If youll think of it, fear is actually caused by ignorance or uncertainty. You are afraid because you are unsure what awaits you. You dont take action because you dont know what action to take. To start getting over FEAR, make sure you educate yourself, even just online. Sites like REIwired.com are helpful. To overcome this problem, you must also recognize what common FEARs about real estate investing are. Here are some of them.
You need formal education to succeed in this business. This is purely a myth. What you need is continuous and proper training and guidance. What you can do is hire a mentor. Make sure that that person will want to see you become successful. A leader must be able to make more leaders. Educate yourself by reading books written by successful investors. You can also attend seminars although these boot camps are often expensive. Usually set on a three-day schedule, they might require you to travel long hours if the venue if far from your place. Better yet, just go online. Visit REIwired.com, which has free video and article content for members. Just be sure to create your own log-in account to access free content.
An economic slump will kill all businesses associated with real estate. This is another false belief. It is true that prices of real estate properties have plummeted because of the recession. However, it is inaccurate to say that this whole industry is crippled at the moment. There are actually other forms of real estate investing that are flourishing amid the market slowdown. A good example if rehabbing houses. Because the prices of many properties are low, many investors buy houses and repair them. Those homes appreciate because of the improvement and will then be sold at a higher price. For that reason, a lot of investors still prefer to take their capital to real estate.
Tons of cash is required in this business. This FEAR is a misconception. You dont need to have a lot of money to invest in real estate. What you need is access to this money. This is known in investing as OPM, or using other peoples money to earn profit. You can borrow money from hard money lenders, who are found across the country. Visit REIwired.com to learn more about them. And then, banks and other traditional lenders are also willing to aid you.
Overcome your FEARs today by learning what to do and what to expect. Learn fromREIwired.com and similar educational websites.
