Stop the endless research loop! Here are the 3 mental barriers preventing you from buying your first investment property and the simple steps to overcome them.
Picture this: It's 2:00 AM. You're hunched over your computer with 27 tabs open - BiggerPockets, YouTube, rental calculators, Zillow. You've been listening to the same podcasts on repeat. You feel incredibly productive, but deep down you know the truth: you're stuck.
You feel busy. You feel like you're learning so much. But you're not making real progress toward buying your first property. You've read all the material online. You've consumed endless content. And still, you feel like you're spinning your wheels.
If this sounds familiar, you're not alone. I've been there, and I've worked with countless people who face this exact struggle. Doing real estate in your 20s or early 30s isn't easy. There are so many strategies, so much information, and it's overwhelming.
But I believe there are three lies - three barriers, three myths - that you're telling yourself. And because you're still reading this instead of closing on deals, I know you have them too.
Lie #1: "I Don't Have Enough Money"
This is the big one. You think you need loads of cash in your bank account before you can even start. When you see that $90k property, you panic because you don't have $90k sitting around. How can you talk to sellers, wholesalers, or realtors if you don't have enough money?
I get it. My first OTP (Offer to Purchase) was for just under $90k, and I only had about $10k in my bank account. I was signing a cash offer to get the best price. Where was I going to get all that cash? It was terrifying and overwhelming.
But here's the truth: this is a lie.
Lie #2: "I Don't Have Enough Knowledge"
This is why you keep those 27 tabs open. You're analyzing markets, trends, macro numbers. How many properties sold in 2024? What's the median price? Nobody cares about this stuff, but you think this is where the answers lie.
You're doubting the market you picked. You think the best deals go to the people with the most knowledge. You don't feel confident running numbers or doing due diligence properly.
Lie #3: "Everyone Else Is Better Than Me"
You're comparing yourself to successful investors on Instagram. You see their highlights and think, "They're doing way better than I'll ever do. They're finding better deals. They have skills I'll never have."
This comparison game is crushing your confidence and keeping you stuck in analysis paralysis.
How to Break Free: The 3-Step Solution
Step 1: Commitment Over Cash
Focus on finding deals, not on how much cash you have. Commit to buying your first investment property no matter what. When you find a good deal, the money will follow.
Be crystal clear about your buy box. Not some complex real estate jargon like "70% below ARV," but real, specific numbers that anyone can understand.
For example: "If you show me a property for $70,000 all-in that I can rent for $1,000, I'll buy it on the spot."
That's a clear buy box. Anyone - investor, realtor, or wholesaler - can help you with those specific numbers. Once you're committed and know what you're looking for, you don't need to worry about the cash. You'll find it.
Think about it: whoever built the building you're sitting in right now probably didn't have all the cash upfront. They found investors, got bank financing, made it work. The same will happen for your investment property when the numbers make sense.
Step 2: Talk to Real People, Not Podcasts
Instead of consuming more content, start having real conversations. Pick up the phone. Start dialing. Talk to:
- Successful investors
- Realtors
- Wholesalers
- Real estate attorneys
- Property managers
- Contractors
These people have real-life knowledge that you'll never find on BiggerPockets forums. My property manager has 40 years of experience. He's been through every crisis, every peak and valley, including 2008. That knowledge is invaluable and irreplaceable.
You're not buying the whole Houston metro market. You're buying one specific property at one specific address. You need people who can analyze that specific deal with you, not generic market knowledge.
Step 3: Track Your Growth, Not Others' Highlights
Stop watching Instagram success stories and start tracking your own progress:
- How many people did you call last week vs. this week?
- How many real conversations did you have?
- How many entrepreneurs have you talked to in the last two months?
Focus on YOUR growth. Be happy for others' success, but don't compare yourself to them. Everyone has a different starting point, different background, different circumstances.
I interviewed investors who had 30 deals by age 20. That's amazing for them! They grew up in different families, with different environments and mindsets. But that doesn't diminish my progress from age 24 to 28.
Zoom out. Look at where you were before you started this real estate journey versus where you are now. That's your real comparison point.
Take Action Now
You're all set with these three pillars. Now stop researching and start dialing. Start having real estate conversations - not just the ones you hear in your headphones, but actual conversations on your phone, on Zoom calls, in real life.
The knowledge will come through action. The money will follow good deals. And your confidence will grow with every conversation you have.
Your first deal is waiting. Stop preparing and start doing.
Dan Y. Shimony
hire me as your coach here