Getting into real estate as a novice can feel scary and overwhelming. It’s important to remember that real estate investing is filled with twists and turns, both expected and unexpected. While a lot of these are scary, it’s important for novices to recognize which ones are just temporary, and which ones are part of the job long-term. Here are some aspects of real estate that are only temporary, based off an article I found on Biggerpockets:
Fears: When beginning any new career, there are going to be plenty of doubts and fears that come with it. Yet long-term real estate investors push past these fears for the sake of their careers. Of course, this isn’t an overnight process, but with proper training and consistent experience, your fears will be replaced with confidence in yourself and your skills.
Hearing “no”: When somebody says “no”, it can often feel like a personal attack. Yet with real estate investing, it’s nothing more than an answer to a proposed situation or question. Remember that “no” may only be temporary, and the thought process, motivation and flexibility of a buyer or seller will most likely change over time. Be sure to follow up with people from the past to see what has changed in their lives, and if you can be of assistance.
Fair market values: The only thing constant in life, as Francois de la Rochefoucauld once wrote, is change. Values change by day, so always be aware of current values and ideally where the market is going.
Your reputation: If you’re just getting started, you don’t have much of a reputation. Yet from such a point of obscurity, you can grow your word-of-mouth reputation so that sellers, buyers, homeowners and others can know who you are and how you can help them. Stay consistent in your advertising, and work to treat everybody with respect. Yet remember that while reputations are slow to build, they’re very quick to ruin, so be on your best behavior.
Your business plans and goals: A great thing about real estate investing is that there are so many ways to make money and create value for others. If you’re new to real estate investing, you’ll need to become educated and safely take immediate action helping sellers in your area, so that you can adapt and change your forward progress as needed.