The fear of buying a house as an investment property is one of the scariest feelings ever.
Although now I’m not so sure…..
Why? Because just last weekend I did a tandem skydive with Southern Skydivers where I jumped out of a plane at 14,000 feet and travelled from 0-200km/hour in just 10 seconds, then continued at this speed for a further 50 seconds till we hit 4,000 feet when our parachute finally opened!
Oh yes, I remember the sense of fear really clearly!!
When I first booked my jump several months ago I had all sort of well meaning people telling me different things. Some saying it would be awesome, fabulous and I’d love it. Others keen to share their feelings of fear, sickness, accident statistics and other gory details.
I had to try really hard to block out all this external and conflicting advice to keep my mind focused on doing this one thing that I wanted to do. I am one to enjoy stretching myself out of my comfort zone and doing a skydive has been on my bucket list for a long time. I knew in my heart that if I let other people influence me to back out of jumping, I would always live with regret.
Fear of Buying A House Is Just The Same!
Not everyone has to jump out of a plane to experience a sense of fear. Fear and what we believe is possible or true is one of the most challenging things to overcome as a property investor.
Why? Because just like I did with my decision to do a skydive, you’ll hear voices in your head telling you how crazy you are. People will tell you things like, “Well don’t go buying interstate.” Or maybe your best friend, spouse or someone who loves you but has never invested into their own future might say something like, “Are you sure? I mean you don’t want to cut back the lifestyle you live now.”
Are you terrified of making a property investment decision??!!
Have you dreamed of having the financial freedom to travel and live your ideal lifestyle?
The fear of buying a house or trying to make decisions on buying investment property is a scary process because there is SO MUCH you don’t know and people are scared of the unknown.
Every day I meet people who are listening to the little ‘voices’ themselves and others are telling them. Here are some that I have heard more recently:
- I don’t know what to do first
- I’m not smart enough to do that
- I can’t buy property because I’m too old
- I’m don’t have enough time
- It’s too hard to me
- What if I don’t buy the right house
Years later we often look back with regret at having given in to some of these voices. There are always moments when it’s easy to use these ‘stories’ as an excuse to give up, not to try or to avoid exploring possibilities. Staying in a rut, in our comfort zone or doing nothing much is easier than facing your fears, digging in a little deeper and overcoming a challenge.
Thou Shalt Take Risks
Even after you’ve spent more time educating yourself and doing more research it’s not unusual to have fear of buying a house or taking the next step.
When it comes to property investing you can be as cautious as you like or stretch yourself out of your comfort zone and either way – no-one has a crystal ball for what the future of the property market holds.
Regardless of how carefully you do your due diligence or get guidance, no-one can guarantee what results you will ultimately see. At some point, you have to take the leap if you want to reap the rewards that are out there to be had…… just like I had to jump out of that plane on Sunday in order to fulfil a lifelong dream.
A certain amount of risk is a prerequisite for success. So feel the fear and do it anyway, and know that every property investor before you has felt the pang of panic at one time or another.
The trick is to fight the fear with four simple rules.
- Research your ideas extensively.
- Keep your goals clear.
- Invest and re-invest; and
- Never be afraid to try new things.
Soon your fear will be replaced by financial fortitude.
Simple mistakes – like failing to do your research or go to the right lender – can halt your progress at best, or at worst cost you thousands of dollars.
I believe the solution to this fear of buying a house is to understand step-by-step the process of investing in property so you know in advance what is likely to happen. Be clear on the purpose for this purchase with how it fits with your bigger goals. Then focusing on just THE NEXT STEP you need to take.
It’s TIME to fight back!
SOW INTO YOUR FUTURE…. do what you have always wanted to do!
I would love to help you design your Profitable Property Portfolio Action Plan!
Thank you so much for your support, and let’s nut it out….. please leave me a comment below on the blog or over on Facebook and tell me – what are your fears about property right now?
P.S. Am I glad I put fear aside and did a skydive? Well hell yeah!