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Real Estate Investing: Overcoming Fear
from:by Dan Forbes
Beginning real estate investors are often paralyzed by fear. It will cripple you if you let it. So, how do you overcome it?I guess there are three things you can do about fear. First, you can give in to it and let it paralyze you. Many beginning investors suffer from the “paralysis of analysis”. They spend so must time analyzing a deal that it finally disappears before their eyes.Have you ever driven along a country road at night and come across a deer standing along the highway? What happens? The headlights shine on the deer and they freeze with that famous “deer in the headlights” look.Too many beginning investors have that same look. Of course, that’s not you, is it? Fear doesn’t overcome you, you overcome it! Right?The second thing you can do with fear is ignore it and recklessly move forward. I don’t want you to ignore fear because the good Lord gave that emotion to us for a reason. Fear is meant to cause you pause. It heightens your senses. It prepares you for fight or flight.If you recklessly go forward when fear is telling you to stand still you might get run over. Have you ever seen a deer lying beside the roadway after having been hit by a car? Worse than being frozen by fear, is being dead because of fear. Don’t be a reckless investor. Let fear remind you to think clearly and move forward confidently.Thirdly, you can recognize fear for what it is, an emotion designed to protect us. A little bit of fear if good for you. It will cause you to study a deal just a little bit closer. It will cause you to run away from dangerous deals. It will give you energy to fight for the good deal.A little bit of fear will help you avoid recklessness.As a new investor you can be assured that you will encounter fear along the way. Others have felt the same way. It’s normal and common to be a bit fearful. Embrace it. Let it empower you. Remember, “We have nothing to fear, but fear itself” (Winston Churchill).Most of our fears are completely unfounded. That’s why some people say FEAR is really False Evidence Appearing Real. In fact, our worst fears rarely ever materialize.Just remember that when fearful thoughts come to mind. “What if this deal is a mistake?”“What if I lose money on this deal?”“What if I go completely broke, lose my home, my car, my spouse, my kids, my health, and my dog?” See where fear can take us?Remember some of the times in the past when you felt fearful and worrisome. You probably imagined the worst. But the worst never happened did it? Things turned out a lot better than you thought they would.That’s that way it is with fear. Remember, either you control your fears, or your fears control you.
Dan Forbes is the broker/owner of Premier Team Inc., Realtors, in Bradenton, Florida. He has assisted over 1000 buyers, sellers, and investors. He is also president of the Bradenton Real Estate Club.BradentonRealEstate.comBradentonRealEstateClub.com" target="_blank"> BradentonRealEstateClub.comFREE Newsletter
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