Have you ever thought about investing in real estate? Could you see yourself wheeling and dealing, putting deals together as you create your Real Estate Empire? Building this dream in your imagination brings you a sense of excitement and thrill.
You reason that you will have more time with your family, more discretionary income, a higher standard of living, and bills paid on time, college for the kids, and vacations! You have read about others who have done it, so why not you.
Then, almost immediately doubts begin to flood your mind. You wonder how you will meet the challenges of personal sacrifice, and time constraints to say nothing of you having a lack of money for your investments. You reason that you know little about real estate and nothing at how to invest in it. The doubt, disappointment and frustration begin to take hold. You attempt a revival by remembering again the successes of others, but how did they do it? How did they manage work, family and the time needed to invest? On top of all this, the money issue crowds everything else out. Your dream is all but dead as your imaginary empire comes crashing down before the building process even begins.
These negative thoughts can not only be discouraging, but given enough time to fester they can be paralyzing. One important thing I want you to realize is that negative thoughts will always produce negative emotions. When we think of how or why we can’t accomplishment a thing, fear, doubt and frustration immediately follow. Feelings are always indicators of what we are thinking. If we can get in touch with our feelings and especially when they are negative, we can challenge our negative thoughts.
For the newbie investor, an understanding of this correlation is vital. He must challenge his negative thoughts or his emotions will lead him in not taking appropriate action and kill his dream. Let’s break this process down by actually challenging the self defeating thoughts as mentioned above.
At first light, it all seemed so exciting, the life of a real estate Mongol, being in my own business, making my own decisions and setting my schedule, with no boss to answer to. How quickly doubt and lack can snatch the dream away. But wait, the answers are there, hidden below the surface. Yes, it will take some digging and sifting, but the gold nuggets can be found.
Personal Sacrifice and Time Constraints
Any worthy goal will need time for accomplishment. Developing a plan and setting priorities and objectives will provide organization and reduce the stress that comes with a big project. Bring the family together and discuss the idea. Show them how this endeavor can provide benefits for them. Have and open forum, where everyone can participate by asking questions and presenting ideas. Once they feel they have a part, you will gain their support. Personal sacrifice and time constraints can turn into a fun family project.
Knowledge and Training
It will be necessary to become knowledgeable in the investing world. The best way to gain the necessary information needed to be successful is to join a Real Estate Investors Group. There, you will attend meetings and network with other investors as you gain knowledge and learn from their experiences. This training is in valuable. It will not only teach you what to do, but what to avoid. This experience will “jump-start” your investing career.
Lack of Money for Investing
One of the great things about real estate investing is you don’t need a lot of money for your investments. You only need to invest a small amount and allow leverage to work in your favor. On top of this, the money needed for the deal doesn’t have to be your own. You can partner with someone else. When you have more time than money, find someone who has more money than time. There are plenty of people who have big incomes and IRAs’ who would like a better return on their money. This is the perfect situation when a lack of money stands in the way of moving forward. Once you do a few deals and build up some reserves, you will be able to fund your own deals.
There you have it! So, back to our question, “Can you invest in Real Estate with little or no money”? Yes, of course you can. So, what are you waiting for? Start dreaming again, take action and bring you dreams into reality.
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