I’ve met and talked to many people who want to invest in property but haven’t yet done so. In most cases this is not because of a logical analysis of the benefits and drawbacks, compared to other investments. For most it is an emotional reaction to the fear that comes up when they think of stepping out of their comfort zone.
The end result….no investment. And the end result of that? Possibly a failure to achieve the wealth and security that they want to have.
If you are thinking of property investment yet haven’t got started, I hope this blog helps by analyzing the most common fears and looking for ways to overcome them.
Everyone is unique and this is not a fail safe recipe – more like a thought provoking conversation with a friend that may open new avenues to explore your concerns. It may help you move forward.
I might lose my money!
In theory this is true…just as it is for any investments. The reality for property is that you rarely lose ALL your money, although you might do so by buying the wrong company shares!
I don’t know what to buy or if it’s a good investment!
1. Learn, learn, learn. One important point – there is much to know that you will NEVER learn until after you invest in a property. Learning theory is one thing. Learning from experience is another.
2. Trust someone else experience. Learn from other people. Find someone who has done what you want to do and learn from them. Piggy back on their experience.
3. Invest without knowing everything. This can be scary but you will never know everything, either about the property or about the deal. Successful investors move forward despite the fear.
There are generally two fears – the fear of moving forward into the unknown and the fear of staying where you are now and failing to achieve your goals and dreams in life.
Where are you? Remember you miss 100% of the shots you don’t take.
Helping You…..Build Your Wealth!