Whether you are considering entering the real estate investment business, changing your marketing strategies or thinking about writing a book, there is no such thing as a perfect time to start. You will find that starting on your own accord is the best option. You may make some mistakes along the way, but those will be offset by the experience and confidence you gain. Preparation is important, but not to the point that you constantly put off starting until everything is perfect. If you wait for that, you may be waiting a very long time.
You will never know everything, have as much funding as you would like or have the contacts needed to survive in the first few months. There is something to be said for learning on the fly and almost forcing yourself to push forward because you now know there is no turning back. Once you get started, you can figure things out and rely on your education and networking.
This does not mean you should hop in your car tomorrow without any investing background or education. You need to spend some time coming up with a plan of attack and how you are going to achieve it. Once you have mapped out the how, you can jump right in and immerse yourself in the business. When you get started, don’t dip your big toe in the water, jump in with both feet! Learn everything there is to know and talk to as many people as you possibly can. By waiting for a certain number of contacts or until you have a certain dollar amount in mind, you are just delaying the process and missing out on opportunities.
There really is no better time than now to get started. The current market is ripe for the taking and never before has there been so much information made available. You can go to one of the dozens of websites and learn one segment of the business. You can pick up an investment book or spend a weekend at a boot camp and learn in a few days what used to take investors months to learn. If you really want to be an investor and in the real estate business, the opportunity is there. All you have to do is seize it!
The biggest reason for the procrastination among investors is fear. Fear of losing money or being taken advantage of. These are both valid fears, but not reason to stand on the sidelines. Before you sign for any deal, you will have time to do your due diligence and ask as many questions as you like. After that, if you don’t like the deal, you can step back and wait for the next one. Anyone can lose money on a deal, but for the most part those deals are few and far between. You either have to be very reckless or not willing to do the legwork to lose money on deals. It is not ideal, but breaking even on a property can provide the best lessons you will ever receive in the business.
You can be prepared, but there will never be a perfect time to get started. At some point, you will have to trust your education and your network and dive right in. The water may be a little cold in the beginning, but after some time it will warm right up.