Your First Property Will Be The Hardest. Period.

I was talking to a colleague who is very interested in investing in real estate but did not know where to start. What scared her the most is the amount of money you would need upfront. I call it, your entrance fee, your buy in, your skin in the game. I believe we all have to experience the "vomit factor," to grow and push beyond our comfort zones. I get my "vomit factor" when I wire tens of thousands into an escrow, seeing my bank account shrink will always give me the "ick and shudder." However, as my coach always reminds me, "What's that money you were saving for anyway? Its purpose was to buy properties right? It's just doing the job you gave it. You are merely switching asset classes from cash to real property that appreciates."

Indeed our first investment property was the hardest to put together, the hardest property to acquire, and the most expensive property to close on. It took us a long time to save up for the down payment and renovations. However, what we've realized is that once we got the ball rolling, it became easier and easier to acquire our second, third, and so forth properties. The money for the down payment was easier to find and accumulate. The money came from our own meticulous savings, cash flow from the rental properties, tax refunds and strategies, creative financing, etc.

Your first property is going to be the hardest because everything is new and daunting, but in our experience, it gets easier because your confidence grows and you become so much better at solving problems. What fazed you in property one, will not bother you nearly as much in property two. Instead of setbacks, you start seeing problems as worthy challenges.

When you're ready, let's talk!

To your wealth!

Jolie

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