Taking the First Step in Real Estate Investing

by : Judson Voss

If you look around you and talk to the folks at the office, church, or the supermarket chances are that you will find literally dozens for 'wannabe' real estate investors with very little effort. At the same time, you will find very few among those dozens who have done more than dream about beginning the process. People have this innate fear of rejection, of being told 'no.' Sadly, many fail to ever ask or take that first step as a result of this fear and many times the answer may have been yes.

Instead of making the effort and taking the risk, (seriously, how hard is it to risk a question or apply for financing when compared to risking retirement funds, life savings, and/or credit ratings for the dream of becoming a real estate investor?) many people simply sit back and dream wondering all their lives if they could have done that.

If you are one of those people it is time to take action. You are either going to live your life wondering about the differences investing in real estate could have made or you are going to have to eventually get out there and put your money where your mouth is. Is it easy? Not really - definitely not as easy as the so-called gurus of late night television would have you believe. It takes work to build a successful real estate investment business. You need to get out there and make the contacts, take the risks, and have a business plan as well as a plan of action. Then you need to take action. All the plans in the world will not make you a success at anything other than planning unless you put them to work for you.

If you are hesitant about approaching traditional lending sources you might try joining a few real estate investing groups in your community and the surrounding area. This first step will serve two purposes really. First of all, it will introduce you to investors who have experience and you can network with them and perhaps find a joint venture that will require less of a capital investment on your part. The second benefit is that you can learn from the discussions that are held and meet others who may be interested in real estate investing, but who also have no idea where to begin the process. You may luck up and find that your local investment group offers resources to members and information and advice about hard money sources, if that is the route you want to take when it comes to financing your first venture.

The important thing is that if you never take any steps towards your goals of becoming a real estate investor, even a baby step or two, you will never live out the dream of real estate investing. So get out there and take that first step. You are sure to find that the first was the most difficult and they all get easier from there.