Fear is something that we all feel at various times in life… particularly when we’re making big decisions about money for the first time!
So it’s no surprise that when it comes to building a property portfolio, the fear of getting it wrong often holds people back from taking the steps they need to get started.
But here’s the thing. Fear is all in your head. And while fear can be useful from an evolutionary perspective, it often tricks us into thinking that our worst projected scenarios will become real.
The truth is that there’s little to be afraid of when investing in property if you do it the right way – protect your assets, do your due diligence in selecting the right property at the right time, and ensure the numbers work before buying.
So why do we feel so afraid of getting started?
A big reason is that we don’t want to get out of our comfort zone. On the whole, people are usually hesitant to dive into something they are not familiar with.
But here’s the problem… no one teaches this sort of thing in school. We don’t learn about money management or wealth generation. So instead of trying a different way, we just follow the path our parents walked before us, and their parents walked before them, and so on.
Which is why so many people end up struggling on the pension, having never been able to create the financial freedom they deserve.
If you want to start building a property portfolio, but you’re afraid of making a potentially life-altering mistake, maybe these common questions can help you get more comfortable about getting started.
- I’m afraid of making the wrong move and losing money. What can I do?
One way to get over this fear is getting help from people who have gone ahead of you, and walked the path to the goal you want. Go to a person who has made mistakes and learned from them… and who now knows how to avoid them in the first place!
You’ll gain a lot of confidence when you get help from someone who has been where you are now, and knows how to navigate the path forward.
The other thing you need to do to overcome your fear is to work on your mindset. As Henry Ford once said, ‘Whether you think you can, or you think you can’t – you’re right.’
History is full of people who have accomplished things that were previously believed to be impossible… so there’s no reason why you can’t be successful at investing given thousands of people all over the world have already done it!
Some books to get you started include:
- Freedom Through Property by George Markoski (https://book.positivepropertysolution.com.au/free)
- Rich Dad Poor Dad by Robert T. Kiyosaki
- Think And Grow Rich by Napoleon Hill
- What should I start doing now so that I become successful at investing?
Let’s face it. If property investing was an easy game, everyone would be doing it. Investing in property requires money, time, and knowledge. And I believe that the more you invest in your own knowledge, the better. Because investment in yourself is one of the best things you can do in your life.
Every book you read, every course you take, every hour spent learning about property investing instead of watching Netflix is an hour well-spent. Look at your property investing education as a long-term investment. It’s going to pay off tenfold.
Whether you are investing money in your learning, health, well-being, or any other self-investment, it always comes back. It will serve you for the rest of your life.
- How can I avoid getting it wrong when I invest?
As with most things in life, your results won’t be great if you just jump in without looking. A successful journey in property investing is all about getting the right strategy.
There are many ways to invest in property, and every successful investor has their own method. That being said, there are fundamentals that we all follow because they’re absolutely essential to getting it right.
Following an established strategy such as The Markoski Method is the great way to start building a positively geared property portfolio, because it’s a tried and tested method that has been used successfully by hundreds of people before.
The bottom line is to get your strategies from someone who is already successfully using them. Also, having a community of fellow investors to discuss ideas and opportunities with, such as my Black Belt investor community, is worth its weight in gold. Speaking with people who have done it before can help you build confidence to get started yourself.
Ready To Overcome the Fear And Build A Profitable Property Portfolio?
If you’re looking to get started with property investing, but you’re still feeling a bit apprehensive about it, our 14 Day Positive Property Challenge might be the perfect place for you to start.
It guides you step by step through creating a Game Plan for getting your first, second, third, fourth (and beyond) property.
At the end of the Challenge you’ll be clear on how to get market-ready, and understand what the exact steps are towards your property investment goals.
It’s a great way to get educated and start taking action to secure your financial future using a cash flow positive property portfolio.
I highly recommend you take a look.
Click here to find out more about the 14 Day Live Positive Property Challenge