What holds you back! - vs - Obstacle CRUSHER!!

Hi everybody,
Making contact with people in person or by phone has always been hard for me in life.Since i started learning REI,The first bridge i had to cross was contacting people by phone(huge fear).What i found was nobody can talk me out of something faster than i can when it comes to taking action.What i do now is,I pick up the phone(no second guessing)dial the number,put it to my ear and take it the way it comes...I also try not to think about what i am going to say,Let it happen natural.(I love email)

My fear in the beginning was the fear of staying the same. I was so sick and tired of doing the same old thing, working my butt off, and still not having anything. Before long the fear of staying the same was overcome by my desire to change.

fear,pain,pleasure i think they are all related!! my fear a while back used to be to talk and express myself to other people which can really hurt you in this rei dream.when i had my own contracting business i didnt mind working 12-14 hr days but when it came time to give the bill i was terrified to hand it to them.after a couple yrs of not making much $ i learned that iDESERVE IT!! in the real estate end i did not like making LOW offers.you HAVE to grab fear by the neck and overcome it!!i learned a great lesson in a couple self help books i read .MAKE A LIST OF A FEW FEARS TODAY AND TOMORROW START DOING THEM AND CHECK THEM OFF AS YOU OVERCOME THEM ONE BY ONE and fear will disappear on these items as you continually do them!! i promise
thanks for the thread rina !!

to all of those who still have a fear of making progress in life; please read this book as it is help me substantially:-

http://www.selfstartersweeklytips.com/tagr.htm

I made some mistakes in the beginning, but we learn from them and become more confident in our abilities. You have to go out there and just do it. Go and make offers on property. Join a real estate club in your area and make some flyers of the properties and share them with others. That is one way to build your buyers list.

When I did my first deal, I had NO money, no job and no idea what I was doing. I just knew I wanted to be an investor. I had good credit and that got me into my duplex with NO money down. After I got in I had NO idea how I was going to come up with the mortgage payments, but somehow I did. I lived in back with my three daughters and rented out the front unit within a week just by putting a for rent sign up. I was shaking when I signed the huge stack of mortgage papers because I didn't even know what I was signing at the time. I got behind on one payment six months later, so my credit was bad. I was panicking every month when it came time to make my mortgage payment, I had the front tenant's payment, but mine was hard to get without working. The market went up so I took advantage of the situation and put the duplex up for sale. I made $48,500 off that deal. My next house was one I found cruising neighborhoods, it was abandoned. I contacted the owner, a month later he called me back and we negotiated a price. I still had NO job, bad credit and still hadn't sold my duplex yet so this house was pending upon the sale of my duplex. I got the house with NO realtor, just a simple one page contract, assigned it six months later and made $25,000 from that deal. I had No list either, I just started calling all the investors I met at the REI club I attended, they weren't interested so I started calling all the "we buy ugly houses guys". I assigned it to them and recouped any rents I paid the months I lived there (all of it went towards the purchase price). So YOU can absolutely do this with NO money, NO credit, NO job and NO list even, I did! Don't let anyone talk you out of it, they just don't know what they're talking about because they don't have the knowledge you do. Keep reading the book and looking through all the posts here. You'll see some amazing people with amazing stories!

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P.S. Ri~
My biggest obstacle, as you know, is lack of time. I work nights so I can't attend the REI meetings here. Doing everything myself is very time consuming when you work a 40 hour job. But I'm working on getting an assistant to take care of the things I don't have time for, like sifting through the tire kickers, so I can focus on making offers and closing on them!

This was a great idea and all the feedback is great, I also wish there were more overcome obstacles than not. My obstacle so far is simply being in a new area where I dont' know almost any people and don't know the area.
I'm in Queens NY, have been here for 4 months and would love to start doing what I learned from the book but I feel like I'm looking for a needle in a haystack. Do you have any suggestions on how to get started in a place where you don't really know anything about the area?

thank you.

Joining and REI group would be a great way to meet investors. I wish you the best in REI and learning about your new area.

Lea
SPR Property Solutions, LLC

My obstacle is getting started with doing my first deal, I know where there are TONS AND TONS of properties near where I work at and near where a lot of my college friend's live. But I am stuck in the obstacle of how do I get the ball rolling and getting deals going with little to no money at all? Like I was reading on this forum the other day some guy locked up a property on Contract for $150,000 that needed $10,000 per unit and the comps were in the 360k's for fully remodeled Triplexes. And he only had it on contract for two weeks before he found an investor to buy that property and he made $4500 in TWO WEEKS and he didn't use any of his money at all!!!!. These are the types I need to start out with first because right now I have terrible credit and when I start making money like this everything will change for the better. Any advice will be helpful to me since I new to becoming a REI and I know the potential of money that can be made in Real Estate Investing.

I am having that same problem, even though I know once I get my first deal under my belt it should be a walk in the park for me; Because I am quick learner with this type of stuff.

Jason

This makes so much sense, Thank you for such an excellent example of getting started in REI.

Jason

(From: BE A REAL ESTATE MILLIONAIRE)

"Here's a little secret. Everyone's always a little afraid. Fear of anything new and different is natural. Most people want to wait until their fears go away before taking action. But because everyone's always afraid, this means too many people never take action at all."
"The solution is to take action regardless of your fears. The more action you take, the more your fears will go away. Action is the only cure for over coming fear."

I never met Dean, but I did meet another major guru (and best selling author) this year and HIS answer to fear is: "Action melts fear."

Interesting,
they BOTH encourage ACTION.

Also in a recent post from CBR regarding assignments, he said, (at the end of it)
"Don't be afraid. Don't be scared. Get it done."

(by the way, -- Hi Rina)

I have the same problem talking to people.

Once I start a conversation, it's hard to get my thoughts out.
Probably because there are so many things flying around in there - I'm excited....

I don't want to sound stupid, but many times what comes out doesn't sound at all like what I meant to say.

Here's a tip.
Find someone else who invests or is interested in real estate.
Then you both have the same interest and know much of the same info.

It's a lot easier talking to someone who knows what you're talking about!
Even if you don't express it very well.
This can be fun and encouraging, but it's also practice for talking to other people - investors, banks, buyers, sellers, etc.

An RE club is a good place to start.

There was this 'little old lady' - Betty - who sat down beside me the first time I attended a local REI meeting and she actually started talking to me first.

Turns out she has a few duplexes for retirement income.

We started talking and I started asking her about her properties - where are they located, when did she buy them, how are they working out for her, what problems has she had investing, whatever popped into my head to keep her talking so I could learn about her.....and from her.

Now I talk to her whenever I see her, but I'm also not so afraid to start conversations with other people at the meetings.

Most people don't mind talking about themselves and their investments, and are usually quite eager to tell me all about them.

If someone doesn't seem eager (maybe they're busy), just say "Nice to have met you" and look for someone else to talk too.

It's really easy, and I've met all types of interesting people.

BTW, this is really 'networking' in disguise.

One of these people might be a future buyer, seller or investor for one of your properties!!!

Rina,
First of all, thanks for starting this stream! I've been paralyzed with fear about failing at real estate investing since I decided it was the best way for me to reach my dreams of being financially independent. I bought Dean's book back in February and got so excited I joined the Success Academy. That's when the fear of failure set in. I haven't been able to move on any of the great ideas I read about in the book. I'm even hesitant about calling the Academy for fear of sounding like a complete nut job!
I actually have an investor willing to front me money but I'm scared I'll screw up and buy the 'money pit' that will break both of us. I get 'brain fog' every time I try to get my head around assigning and the list goes on. From experience I know that the first step is always the hardest but this one is the biggest I can remember. Even writing an entry on this site has been stressful for fear of sounding like a idiot.

Thanks again, I love reading your entries....very inspiring!

Jim

I talked to two agents today and it was hard for me to grab the phone and give them a call but as soon as I made that step.I talked confidently,that has helped me so much...I am building my power team so I guess I should talk to more prefessionals.Can You tell me a bit about LLC....and how You registered yours....and which company helped you?

Since my post I have spoken to a few sources, a local realestate attorney and 2 brokers in my area who have successfully completed short Sale packages. I finally got the process down pact and am running full speed ahead. Thanks for the insight and motivation.

I have been reading A LOT of really good info on this thread. Thank you to everyone who is contributing! It's helping me SO MUCH!

Too many excuses for too many years
Too many doubts and too many fears.
Too many yesterdays have now slipped away
Now 'change' is ahead...for I have TODAY!
May God bless you ALL for being here.
:)Live Life. Love Life. Live Love.

My (abridged) story is on my profile but I wanted to tell you 'Thank You' here so others can know that all of us TOGETHER can help each other overcome our biggest hurdle: OUR OWN THINKING! I really appreciate what you wrote for Maria. It is helping me, too. (See! Together! It's ALREADY WORKING! )

as most of you posting. Fear is a major obstacle. Making calls - sometimes it takes me 2 days just to get the courage up to call. I still haven't called the success academy back. I will do that tomorrow! Fear of looking stupid to a realator or seller or anybody for that matter. Also, I fear I won't be able to understand on the phone or even in person - I have lost a lot of my hearing in the last year. I haven't given up, but I need to do something besides read and post. The house I rent is costing me a fortune and I want to find something for myself that is affordable.

Elena your post has given me courage not to give up!!

Thanks Rina for starting this thread. It came on a night when I was feeling really down about my lack of forward action. Now I know even if it is a small step, as long as I keep doing something and don't give up, eventually I WILL SUCCEED!!!

Thanks

Janet

Well my obstacles, is just not being guided the right way or just bad guidance overall, i think that is what is holding me back a bit. I am really trying hard to overcome that by keeping on top of things and not letting my dream go. I am so into real estate its a shame i feel it in my blood and bones everytime, its like a rush to me becuase there are so many interesting things to learn and learn and learn its crazy. The only solution i came up with for that is keep striving until you (i) get the proper guidance and that is why i try to interact with people on this site hoping someone can understand my obsticles and help me through them. Like dean said the more people know his work from his teaching, the more people would know and would be able to help others, only the people who have been through it would be able to direct you through it!!!! Just need the proper guidance on how i can locates these great deals then i believe i am on my way to success, and once i have reached there i would be more than gladly to share it with the world because it makes me feel good to explain something to someone or people who wants to gain more knowlege in different areas and i believe that is how God children gets their blessing!!And i am a strong believer of that.The more you give, the more blessing in return you will get so i will be on my way as soon as i get some proper assistance, Wish you all well.

Congratulations on grabbing the phone and talking to 2 agents. I do understand how that feels. As much as I want each conversation to go 'perfectly' I realize that it won't but in time will get better. I remember the 1st time I called a list of rental properties to find cash buyers one man was 'abrupt' to put it mildly and kept asking questions I didn't have answers to (I told him we were new), can't even remember what they were now. I was so nervous and I'm sure he sensed it - but I survived.

We used our real estate attorney to set up our LLC. Folks here on Dean's website have mentioned that they have used legalzoom.

I wish you the best!!

Lea
SPR Property Solutions, LLC

1. Go to the HUD website for you state.
2. Go to the Bid Statics page and write down the addresses every week of homes that have sold to investors. They will be the Non-owner occupied homes.
3. After a few weeks these deals will all be closing.
4. Go to your tax records and find out who bought them.
5. Contact those people.

This method cuts through the B.S because you will be tracking Non-Owner Occupied sales, which means they are investors, which will make you lots of money.

Best of all once you start tracking you will have a fresh updated list of the newest buyers every single week.

This idea was put on the DG website by a very smart guy named "Eric"...I've started doing this and am well on my way to a great (constantly updated) Buyer's List. Good luck!!

Rina, thanks for starting this thread...

As for me, my current fear is going to the county courthouse and knowing what I'm supposed to be looking for when researching a potential property. I was actually there today and after finally finding the Registry of Deeds office, I went over to one of the computers and got completely overwhelmed as I sat looking at the screen.

Does anybody have a DUE DILLIGENCE checklist they go by when looking at a single family investment property? I know you can find out things like what the last year's taxes were and last time it was sold on sites like Dean's TotalView RE. But what is it we're supposed to be researching at the actual courthouse? Is it for any liens that are against the property? Then I'm wondering if I should be going to the tax office to get that info... Basically very confused which department I'm supposed to be going to and what info I'm looking for... Any suggestions??

Thanks in advance,
Suzi : )

Oh this cannot happen to me! I pay my debts on time, but it did. The property I cosigned for my sister in Baltimore, I received the judgment from the courts two weeks ago, it went into foreclosure. You think I will make that stop my goals and dreams, NEVER. I know who is in control and as long as he is captain of my ship, it will sail. God has never failed me yet, he let things happen to change the direction of where he wants us to go. I feel less stressed now not having to wonder about additional bills. We cannot and must not let anything deter us from the task at hand, that is, success in real estate. Like I always say we learn from our mistakes and the mistakes of others. Learn from me and do not let it happen to you. Rina, thanks for opening this forum to allow us to face our fears and challenges. To all my DG brothers and sisters, Rina is my mentor who has supported and encouraged me for the pass year and Lubertha is my partner who has what it take to triumph despite all odds. I love you all, God Bless.

Sandra/Bernadette

I only been in Atlanta a year now. To learn a new city you have to get out there and learn the neighborhoods & their prospective homeowner associations or meetings. Call up your local Uhaul and see whether they will be willing to give you the information regarding where people (local and transplants) are moving to, in and around your area. Get on Realtor.com and look to see what owners are asking for their prospective homes and which areas those homes are located in. Partner with a Realtor who's fully aware of the popular schools in the area & the changes going on in specific neighborhoods and/or areas. They will tell you where their clients and likely other Realtors' clients are moving too. HTH God Bless with your REI.

I'm going to try the 7 levels deep on this and see where I go.

"Why are you afraid to call or talk to theses people Barbara? (I can see Dean talking straight to me :)"

1. Well, I'm afraid I'll sound like a mumbling idiot.
"why do you think you'll sound like a mumbling idiot?"

2. Sometimes my brain freezes and I can't get the words out.
"why does your brain freeze and no words come out?"

3. Because I'm nervous and shaky.
"why are you nervous and shaky?"

4. Because I'm stepping out into the unknown.
"why does the unknown make you uncomfortable?"

5. Because I'm afraid I won't know how to handle the rebuttal.
"why are you afraid you can't handle the rebuttal?"

6. They might think I'm a fraud.
"why would they think your a fraud?"

7. Because I might not be able to answer their question.
"why can't you answer their question?"

(This might go deeper then 7 levels. FEAR is a different emotion than WANT. I'm going to keep going with this.)

8. I probably could but it might be the wrong answer.
"why are you afraid you'll answer wrong?"

9. Because I might not be ready for that question
"why aren't you ready for that question?"

10. I don't know I've spent hours reading Deans books. I converted his Edge program into my Itouch and listen all night at work. I'm on the site all the time. I'm in the Academy. I should know most answers that could come my way. If not I know where I can go to get questions answered. My fear almost seems trivial at this point I must say. I can see where getting just that first one out of the way I'm sure this feeling will all go away. It actually feels lessened just from trying this.

Might give it a whirl. Keep going until you can unthread that fear.

Barbara

First to Rina god bless you! Because of this thread I know I am not alone. There isn't much I can add because all of you guys are saying it for me my fears are the same. Windrider1967 keep your head high. I am in the same boat,right now my my fiance and my two kids and myself are living in a cheap motel and have been for almost a year now. Now I am on unemployment and barely getting by. Windrider if you want you can send me a private message with your mailing address. The books I have are be a real estate millionaire and profit from real estate right now, if these are the books you wanted to order I will glady send you my copies. Thats if you dont mind a few highlighted pages. I have read them a hundred times. Just promise to read them. Atlcamel I also live in Atlanta and the Marta is great transportation lol! Have you been to any of the rei clubs here? I sent you a private message a few weeks ago I am not sure if you have seen it. Jumping off subject what is the deal with the medals and how do you aquire them anyone?

I love it.
This is great!
aym, Ingrid, Bill, Cathy, Maria, Lea, Alana, Jason, Randee, Matt, Jay, George, Jason, Lena, Robert, Lea, Jason, Michael, James, Jim, Michelle, Kirk, Jeff, janet, Cora, Suzi, Sandra, Barbara, and James,
Thank you!! It's really cool to see all of us sharing concerns and solutions. I hope everyone who has posted has been able to gain some new confidence and take some more action steps in their quest for freedom. Thank you, thank you, to everyone. Keep it up, and don't anyone feel lost in the crowd. Each person in the DG family has something to give, and we ALL need a little wind beneath our wings!
Barbara, I love that you used the 7 layers deep that Dean taught us at the EDGE event. After i saw you do that, I tried it again with some of my fears I still have, and it really opened my eyes again. Thank you for helping me go one step further.

Wishing everyone the success you deserve!!
Rina

That was a GREAT thread.
Sharing the love...

My obstacles are like many of you:

1. One of my biggest obstacles are fear. I fear sounding stupid to others that I talk to about doing Real Estate Investing. Such as sellers and buyers and people on my networking list. Fear of picking up that phone.
2. Over Analyzing- I over anylze some of my situations I think. Like Dean says "Paralysis from Over-Analysis. Its like I just want everything to go right the first time that I Over analyze some of my dealings.

3. Lack of Time- I work 12 hours a day and when I get home I am usually tired from driving tow truck all day.

4. Incompetent AGent- I have a agent that I work with sometimes but she and some others tell me things that I know are not 100% true its just their lack of ability to think outside of the box. If you let these close minded agents will get you really fustrated and confused.

I probably could come up with more obstacles but I dont want to focus on those excuses I rather think of my solutions. I just try to have fun at what I am doing. It feels good saying Im a real estate investor and I am meeting some cool people. I cant wait until I close my first deal and I am doing this full time.