There are many things that can stop people from becoming a Real Estate Investor. One of the most common is the Fear of Failure.
The Fear of Failure is quite simply a fear that you have that you will fail. People have been brought up in a society to do things in a predefined way. A “normal” way. Go to school. Get good marks. Get a good job. Buy a house. Get married. Raise a family. Retire and Die…or something like that.
When you start looking at choosing a different path, people will start giving you “advice” such as… “Don’t go into Real Estate Investing. My brother’s, wife’s, sister’s hair dresser has lost a lot of money in Real Estate Investing.” or “Real Estate Investing is a lot of work. Why don’t you just invest in Company XYZ. I heard they are suppose to be the next Google”.
So if you decide to ignore their advice and you do become a Real Estate Investor then you are opening yourself up to possible failure and ridicule. “I told you, but you didn’t listen”.
Another reason for having a Fear of Failure is that you could suffer severe financial ruin or you could lose all of your savings. Yes, there is some risk with Real Estate Investing but good education and good management will mitigate that risk. For example, don’t buy a fixer upper that needs major renovations as your first deal. Start with something that needs paint and new carpets.
The thing about the Fear of Failure is that if you think too much about it, you will attract it. It’s a self fulling prophecy. You too can then say “Real estate Investing doesn’t work”. Everyone was right.
The thing to remember is that a lot of people have made a lot of money is Real Estate Investing. Some people have lost a lot of money too (myself included). The difference is that I persevered through those bad times and I am now enjoyng my successes. And it wasn’t that long ago.