Do not always listen to your Doctor especially when it comes to Real Estate Investing!

Creating fear is what doctor's do best! It's amazing how this technique still works today. Being armored with knowledge is a powerful thing. Negativety comes in many ways. We will always achieve our dominant thoughts. So like you say, I'm believing in me! Much Success...........Lubertha

Last week, I attended a seminar @ my local chamber of commerce on how to raise capital for your business and I was basically told the same thing by a well meaning but misinformed couple that I met that night. I told them that I was getting into real estate investing the husband made a face @ me and said "Son, you'd better have a ton of money if you're gonna invest in real estate." That comment did nothing but motivate even more to continue in real estate investing. Wishing you all good real estate investing!!!

The reason most people are turned off by investing in real estate is because they have seen the value of their own home decrease by as much as 50% in some cases. Also, they may know of someone who invested in real estate at the wrong time (when the cost of buying was at it's peak) and have seen them lose the money they invested as well as the houses that they purchased.

When I approached my brother about the idea of becoming a short term cash partner with me, his response was "it's going to take the real estate market at least 7 years to recover." I knew it was useless to ask him how he knew it was going to take that long to recover. I also knew it was useless for me to try to explain to him why he should become a partner with me and see a big return on his investment. I only hope he doesn't get mad at me when I reach financial freedom through real estate and he is upset that he didn't take advantage of becoming a partner with me.

Thanks for the reply. You are so right that doctors often cause fear in people. I believe it is a test for people to overcome fear and uncertainty when it comes to real estate investing. Each encounter can be a test to make you a stronger person and a better investor. Good luck on all your deals. Believe and Achieve! Indiana-Joe

Thanks for sharing your insight regarding other people's impressions of real estate investing. Ity is true that so many people may offer an opinion but not really understand the subject matter that are offering the opinion on. Good luck on all your real estate deals. Believe and Achieve! Indiana-Joe

Thanks for the posting your insightful comments. I sometime believe that family and friends become like "jump on the band wagon" sports fans when it comes to real estate investing.

As a Cubs fan I would get my shares of jokes about how bad the Cubs were, but in the year 2003 when the Cubs almost made it to the World Series it seemed everyone was a Cubs fan and always was a Cubs fan. Thus, with your brother, once you start having some success with good real estate deals he will be wanting in on the action. However, you may be running at a faster pace then he may be able to keep up with. Good luck on all your deals and the pursuit of financial freedom! Believe and Achieve! Indiana-Joe

People who understand real estate are investing in real estate. The people who don't understand the real estate market aren't investing for a reason - and unfortunately probably got clobbered.

Some people think just because they read the newspaper they are an expert on any topic they have read an article on. In the same note, I should be totally qualified to practice medicine on your doctor because I have read a lot of articles on health and medical treatments.

Look, when people take certain things for granted, like real estate and the stock market/401k are all one streets that only go up - the moment they go the other way people decry them as terrible investments.

It is the nature of the beast.

BE CAREFUL WHO YOU TAKE ADVICE FROM! Just like there is only one or two stock brokers I would take stock advice from, there is only one or two realtors out of all them I have met I would take real estate advice from.

When you want REI advice, talk to a REI. When you want stock advice, talk to experienced traders. When you want advice on if you should buy a certain type of car, talk to people who have owned them, not the guy selling it.

Thanks you for sharing your insight and perspective. I really enjoy reading the follow-up advice you often offer. I left the doctor's office and I thought I hope to come back next year and the Doctor inquires how the "real estate thing" is going.

When I got home later that evening and told my wife. She indicated that is great the doctor said that. I asked why? And she said "if everyone had a drive and passion for real estate, it would make finding good deals even harder." She went on to say, "as Dean stated at the E.D.G.E. event, the doctor is on the bench or the stands watching the game and at least we are in the game looking for the next opportunity to get the ball and score!" Believe and Achieve! Indiana-Joe

Remember, one of the best indicators in the investment world, period (whether it is real estate, equities, commodities, everything) is contrarian indicators.

When the masses all agree that something is a great investment, that is a contrarian indicator. The news is usually a contrarian indicator for a lot of things.

People start changing their tune when they start reporting on the masses making a fortune on paper without the assumed need to speculate: like living in a house or buying any house (not being an active investor), buying any tech stock (late 90's)... things that are all the rage, that is how you know you have a bubble.

The best buying opportunity comes after the bubble. It always has... and this is where we are, the bubble has popped and most of the fallout is over. The masses are just waiting for the news to say "it's official, home prices won't go down anymore!" and by then things will already be pretty firmed up and that news will send everyone running back to get mortgages out of the fear of missing out on great prices. It will just be more controlled this time around I suspect. This will a great opportunity to liquidate a portion of your real estate portfolio to take some profits.

Thanks for the information and insight. It is great to know that we are in such a great market to find and lock-up deals on real estate. It is also nice to know that eventually we may have several properties we can sell and realize great profits (the sky is the limit). There are so many cycles in real estate and it is great to know which cycle we are in and will be working toward that next cycle! Believe and Achieve. Indiana-Joe