August 14, 2020 – Back To The Basics: How To Avoid Analysis Paralysis

QUOTE OF THE WEEK

“Whatever you can do or dream you can, begin it; Boldness has genius, power, and magic in it.”

-Johann Wolfgang Von Goethe-

Hi Readers!

This week we’re getting back to the basics.  I’m constantly seeing comments online from people saying that they are having a hard time getting started in real estate.  I’ve addressed this before but I’m coming back to it because I know they’re making this all too complicated.  Making money in real estate is really not that complicated.  People make it hard.  People make it complicated.  

Sure, there are a lot of strategies to choose from and some of them are very involved.  BUT, you don’t have to start out with those strategies and you don’t have to learn them ALL… ever.  This is how you get caught up in analysis paralysis.  All you really have to do is choose one to start.

My featured guest today is a young lady who did just that, then, started a Facebook Group for new investors to help them do the same so check out her story.  As I always try to do, I’ve also provided a little inspiration in the Inspiration Corner (new name) this week as well as some suggested materials for you to check out.

So without further adieu, let’s get to it.  Hope you enjoy!

Lena W. Claybon, Co-Founder/CEO
ROCK THE REAL ESTATE!

Feature Story

 
 
BACK TO THE BASICS:  HOW TO AVOID ANALYSIS PARALYSIS

A lot of newbie investors think they have to know everything there is about real estate to get started.  That is simply not the case.  Many investors only use one or two strategies throughout their entire investing career.  They find the one(s) they resonate with the most and stick with it.  They commit to learning that one, get good at it by doing it over and over again, and then, if they so choose, they might delve into other ones down the line.  

My guest, Shawn Hundley, has only studied one strategy, so far, which she is now using to make money.  She also started a Facebook Group for newbie investors called, “Wholesaling Houses Support Group”.  She says she started it as a safe place for newbies to ask questions without feeling ashamed but I’ll let her explain it in her own words:

RTRE: First, tell us a little about your background.  How did you get started in real estate?

SHAWN:  I’ve been wanting to do real estate for years but I got started with this last September and by January of this year, I was just frustrated with not being able to do it the way I wanted, so I ended up quitting my job [to go full time] with no back up.

RTRE:  Oh, wow!  

SHAWN:  Yeah, and I felt really good about that decision at the time but the Universe has jokes (chuckle), and I ended up having a lot of back pain and I had to have surgery.  So, a few months would go by before I really was able to get it going.  

RTRE:  Oh, ok, so since then you’ve been able to get some deals going?

SHAWN:  Yes, as a matter of fact, I have two deals right now at the Title office and we’re just waiting for them to close.

RTRE:  Congratuations!  

SHAWN:  Thank you!

RTRE:  So, how did the Facebook Group come about?

SHAWN:  It was really my daughter’s idea.  But, I had joined a lot of these real estate groups online to learn more about it, and I was just tired of seeing new investors disrespected in some of the groups when they would ask questions.  Just because you don’t know something doesn’t mean you should be made to feel stupid or bad because you don’t know.  So, I wanted to start my own group to give new investors somewhere to come where they could ask anything they wanted without feeling bad or ashame but I wasn’t sure I had anything to offer [to a group].  So, my daughter talked me into it anyway.

RTRE:  Well, obviously it was a great idea.  You’ve got, what, over 500 members so far?

SHAWN:  Yes!

RTRE:  So, who can join the group?

SHAWN:  Anyone!  I just ask that when you join, just treat everyone with respect and kindness.  

RTRE:  What’s the name again for those who might want to join?

SHAWN:  “Wholesaling Houses Support Group” on Facebook.

RTRE:  Shawn, thank you so much for joining us today to tell us about your Group and good luck with your real estate endeavors!

SHAWN:  Thank you!

Inspiration Corner

How To Build Up Your R.E. Muscle By Building Confidence

A bodybuilder doesn’t just wake up one day with the body of Mr. Universe.  He knows it takes time to build up his body one muscle group at a time.  Same thing with building your Real Estate business muscle (so to speak).  It’s built up over time through building your confidence.

Lack of confidence is the reason a lot of people who try to do real estate fail.  They’re afraid to talk to Sellers.  They’re afraid to talk to Buyers.  And when they do, they stutter, stumble and can barely get the words out.  This leaves them feeling bad and believing this business is just not for them.  But let me ask you something.  When you first learned to ride a bike, did you just jump on and ride down the street smoothly without wobbling or falling?  More than likely not.

You had to learn it, then practice to become confident enough to do it without falling.  It’s no different in real estate or anything else for that matter.  Building up your confidence will make all the difference.  Here’s a few ways to do it:

1. Accentuate the positive.

Be your own best friend. What do you tell a friend who’s tried something new, whether or not it turned out well the first time? “At least you got out the gate and did it!  Good for you!  Keep going!” Tell yourself the same thing and mean it!

2. Don’t be afraid to take some risks.

When you are about to make that call, do you spend your time worrying so much about the outcome that you dread it? If you look at new things in your life as a chance to learn something, it opens up the possibility of you becoming good at it.  If you spend your time dreading the outcome, you’ll turn any opportunity there might have been into a failure. What’s more, you can’t grow when you are frozen with fear. Don’t set yourself up to fail. If you do, look at number one, again!

3. Use self-talk to keep assumptions away.

We all use self-talk. But many times, we make assumptions that are not even real.  I contacted a Seller once, completely afraid she would tell me to take a hike, but instead she was very happy I called because she had been wanting to sell her house for a long time but didn’t think she could because of all the repairs the house needed.  Before we hung up, she actually thanked me for the call!

4. Don’t listen to others.

If you always rely on the opinion of others, you’ll always be wondering what they think! That does nothing to build confidence – it tears it down, by giving away your personal power to others.  Focus on the real you, inside, and how you feel about your own actions.  That’s all that matters.

It’s important to remember that no one can be perfect all of the time and EVERYONE makes mistakes. In fact, you’ll build confidence faster and easier once you realize that

Suggested Materials

This free App will help you build confidence and attract positivity in your life. It’s called THINKUP
 

15 Powerful tools to help you build self-confidence

(Disclosure: We do not receive commissions from suggested apps)

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