The Proper Mindset Required For Real Estate Investment

Too often, people who want to invest in real estate get overwhelmed by all the things  they don’t know but think they should. This, inevitably, causes a fear of failure, which  leads to a lot of procrastination. But how do you overcome the overwhelming feeling of  judgment?  


 

Here are some pointers to help you get into the proper mindset for investing in real  estate: 

 

Buying Investment Real Estate: A Marathon, Not A Sprint 

The feeling of overwhelm that a beginner gets when thinking of buying investment real  estate initially comes from insisting on the right place to start. 


 

When buying investment real estate, especially when buying it for the first time, people  often spend tremendous amounts of time scrambling for the perfect place to start. Is it a  single-family home, a condo, a property under $750,000, over $750,000, downtown, in  the burbs, a condo conversion project, a flip, or new construction? The list goes on and  on. 


 

What most people buying investment real estate don't understand is that your path to  wealth is not linear. All of these may be the right choices given the right mentor and  education. What you really need to do is begin. 


 

By beginning with ANY of the possible investments you build a base of experience that  you can learn from and make even better decisions in the future. But without that base  of experience to lean on you have nothing. Therefore, initially, it's more important to  find a mentor, get some education (six months of reading is more than enough) and  then take action. You are building your base of experience by taking the first step and  that's almost more important than the investment itself. 


 

Allow Yourself To Make Mistakes 

When beginners start buying investment real estate, they typically don't allow  themselves the time to develop their confidence. They want to be perfect at negotiating the lease, picking the property, collecting cash, and they want to be perfect  at it all from day one. This is wrong and builds that feeling of overwhelm. 


 

When buying investment real estate, you need to learn as you go. Each step in the  process of finding a home, negotiating to purchase it, closing on it, renting it out and  making a profit from it is part of the process. It is natural and expected that as a  beginner real estate investor, you will make some mistakes. It's those mistakes that  build your experience and make you better at it. You must expect some mistakes. You  must ask for help. You must give yourself permission to be less than perfect. This  attitude will go a long way in making the process of buying investment real estate  bearable for you. 


 

It’s About The Journey, Not The Destination 

Beginner real estate investors will think that they need to be "finished already". They  get frustrated with their level of accomplishment at the beginning and compare it with  the "ideal" they set out with at the beginning. Many get trapped in their minds thinking  they should have their property rented by a certain point and panic when they are not  following a deadline they themselves created.  


 

The problem is, by focusing on renting out your property immediately, you open the  door to panic and overwhelm. You’re focusing on the finish line when you have only  just started the journey.  


 

Doing serious homework, working with the right professionals, and setting realistic goals  is the only way to succeed when it comes to real estate investment.  


 

I hope that this article reminds you, you will succeed at last rather than at once.  


 

I understand that making real estate investing decisions can be challenging, especially if you don’t have the correct support network  to help you.


 

I have been a Real Estate agent for over 3 decades and have helped my clients purchase homes as their primary residence, as a Buy/Fix and  Flip investment and as a Buy/Fix/Hold and Rent investment. 


 

I’ve also helped my clients purchase Builders New Construction and Existing Inventory homes and condo’s as well as just about any other real estate investment out there. 


 

I also help my clients rent out their investment properties and when  the time comes, to sell their investment properties. 


 

Please reach out to me, and I will leverage my years of experience to  get you the perfect real estate investment property for you and your family.


You can reach me at 905-683-7800.






 

Thanks For Reading Today’s BLOG!

Brian Kondo
Sales Representative / Team Leader
The Brian Kondo Real Estate Team
Re/Max Hallmark First Group Realty Ltd.
905-683-7800 office
905-426-7484 direct
brian@briankondo.com
www.BrianKondo.com
www.BrianKondoTeam.com

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