Pulling the Trigger
Today I want to talk to you about what I think the number one reason people don’t buy investment property is- inability to pull the trigger. After 7 years of buying investment property, I still get those butterflies in my stomach when I’ve got a closing at 1:00 that I’ve got to go to and actually sign on the deal. Once you get over the idea that the butterflies are going to be there, that will put you on a pace to consistently buy properties, as you get past the fear of what you’re doing.
I have a guy that I’ve been mentoring in Central Texas, and he actually sat with Brian for 3 months before buying a property. This guy’s extremely smart- he’s a CPA by trade so he’s constantly got data and analyzing the deals. For three months he was planning out his 5 year plan, and had seen hundreds of deals but he could never pull the trigger. He said the other day that once he got past the fear of actually buying the property, he bought his first one the next day.
Buy Property!
So pulling the trigger on a property is what typically holds people back- they’re afraid to go out and do this even when they know that everything’s in line and all the homework they’ve done has worked out, and it’s going to benefit them to do this. They still can’t pull the trigger.
So, like Brian says “embrace the suck,” pull the trigger, get over it, and go out and buy property. You know what you’re doing. Just follow the key rules, have the right map, and go out and buy property.
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…during those 3 months, asked alot of questions, learned alot, did my own research, did my own evaluations, all of which increased my comfort level a little bit each time…then got to the point that I was comfortable w/ the process…as you said, the key is to take action and pull the trigger to close the first one…you prove to yourself that it can play out the way you hope it will