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First Purchase: How to Stay Calm and Confident

Aug 17, 2007
Not only are they scared about how their investment is going to turn out, they are learning practically everything there is to know about real estate investing through a hands-on, trial and error crash course. At any given moment, they are only one rookie mistake from failure and financial ruin. If that's not pressure, I don't know what is.

In any type of business venture, indecisiveness and bad timing can cost you a good chunk of your profits and the same is true when it comes to real estate investing. But it can be hard to make quick decisions or be confident that you are making the right choices if you have no experiences to draw from. This is where educating yourself plays a huge role. Read and learn all you can about investing before making your first purchase. Be familiar with all of the pitfalls and setbacks that can throw your project off course. Learn from other people's mistakes by letting their testimonials teach you what not to do.

A mentor can be an invaluable asset on your first investment purchase. It might even be a great idea to start out your path in real estate investing with a joint venture instead of trying to go it alone. An experienced business partner or mentor can help keep your project on track and prevent you from making miscalculations and mistakes that can cost you money.

Don't be afraid to ask questions if you are unsure about something. Remember; the only stupid question is the one that you didn't ask. Don't be embarrassed about not knowing the answers to questions that you think you should know. Chances are that the questions you have are the same questions that the pros had to learn the hard way when they started real estate investing.

When working on your first investment project, you should always look ahead. Try to spot potential snags and make corrections before they become a reality. If you do run into problems along the way, don't be too hard on yourself. Just brush yourself off and keep going remembering that all real estate investments have their particular hitches and glitches.

Don't dwell on the things that you cannot do anything about and let them take away your confidence and vision for the project. Focus instead on the issues that you can change. If you stay busy and keep working, you will find that you have little time for worry and becoming overwhelmed. Keep moving forward and your real estate investing dream will become a reality.

If there comes a time during your project that you feel completely overwhelmed, ask for help. There could be simple solutions to your problems and you're just too upset to see them clearly. Don't allow yourself to become frazzled. Take a deep breath, ask for support, and move forward
About the Author
James Klobasa, once broke with no job and $20,000 in debt made a choice that changed his life forever. That choice was investing in Real Estate. With the founder of, The Little Building Co. you too, can learn at Real-Real Estate Investing
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