Dithering or Diving In?
Two of the most common traits of budding real estate investors who never make it beyond, (or even to) their first property, are either acting too impulsively or being overly cautious and never acting at all.
The first is being in too much of a hurry… They think they have to have it all yesterday. They attend one seminar and buy into the first crazy scheme they’re sold without thinking it through, then if it doesn’t make them rich overnight, they lose heart and throw in the towel, saying property just isn’t for them.
The second are procrastinators and are their own worst enemies...
They watch all the webinars, read all the books, listen to all the property podcasts, and watch all the videos, only to end up overloaded with information and unable to act.
We call this paralysis by analysis.
While the former can sometimes learn from their mistakes and make a success of their investment endeavours, the latter will never overcome their fears.
The best you can do is find a happy medium – sure, learn as much as possible to make you comfortable with your investment decisions but don’t think you can ever know it all before you begin.
And remember, real estate produces millions of wealthy people and only a handful of losers.