Fear: The Thief of Dreams

Your dream is to own investment property and create a passive income, and yet this burning desire remains unfulfilled.

Why?

Fear.  The oldest and strongest emotion of mankind.

It is likely you have procrastinated for as long as you have due to one or many of the most common fears that trick people into not investing.

Let’s see if you’re on this list.

 

1) Fear of failure

If you don’t know what you’re doing because you’re brand new to this investment thing, you’d be forgiven for feeling some trepidation.

But getting it wrong is not so much about being a novice as it is about neglecting your research.  Knowledge is power – so the more information you gather before you start, the more you will minimise your risk.

 

2) Fear of being ripped off

Sister emotion to fear is distrust.

There are a lot of sharks out there willing to take your money and run, and it can be difficult to recognise when someone doesn’t exactly have your best interests at heart.

So, treading cautiously is a good thing, but becoming paralysed by suspicion won’t do you any favours.

Trust your gut.  You’re probably more adept than you think when it comes to segregating the good, the bad and the ugly of ‘advisors’.

 

3) Fear of feeling like a Noob

Maybe you feel like you don’t have the smarts to get involved in this money-making game.  What if you look plain stupid because you don’t understand it?

The truth is – not many of us can get our head around it at first.  There’s a lot to take in.

But by edging a few baby steps with a trusted advisor, you can equip yourself with enough insight to get the ball rolling.

The experts know that monetary matters can seem daunting.  That’s why they’ve provided a full gamut of books, magazines, blogs and sundry to get you started.

 

4) Fear of numerical nightmares

Maybe you weren’t very good with numbers in high school.  There’s a good chance you thought you’d never be needing long division again.  It just wasn’t your forte.

So, how on earth will you be able to estimate things like expected income vs the outgoings of repairs, insurance, taxes – and package them all into a nice neat budget?

Easy.  Get the ‘guy’ to do it.  In other words, seek the guidance of a trusted accountant or financial advisor.  If you’re not confident, simply find someone who is.

 

5) Fear of losing it all

It’s near impossible to predict what the property market will do. There is some risk involved in almost every aspect of life.

But if you never step out of your comfort zone, you’ll never experience the things just out of reach.

Rather than going in all guns blazing and throwing caution to the wind, take a calculated risk.  If you plan it right and invest wisely, your peaks should far outweigh your troughs.

 

6) Fear of making the wrong choice

This worrying factor could possibly be the main reason for delaying any decision making.

In today’s society, in particular, there is way too much from which to choose.  Once upon a time, you could almost bank on a good thing because there wasn’t much else around.  These days, when presented with so many options and conflicting advice, it’s easy to fall victim to overwhelm.

But again, it merely comes down to doing as much research as you can, gaining all the advice there is on offer, then making an educated choice.

Remember, if you never choose – you’ll never know.

Wouldn’t you like to see your dreams come true?