Fear. It’s an emotion that we all experience in varying forms and on varying levels.
It starts when we are kids and continues right through our adult life. Sometimes we get over our fears, and other times it can be totally crippling and stop us from doing something that we really want to do.
Fear can be painful and heartbreaking, but one thing I know for sure, is that if you don’t take the time to identify your fears, understand why they are there and put in the effort to overcome them, they will literally stop you in your tracks and prevent you from ever moving forward and creating the life that you really want. Not just through property investing, but with anything in your life. And even worse than that, sometimes fear can be disguised as an excuse and we come up with a hundred different reasons why we can’t do something. But at the end of the day it all comes down to fear.
Investing in property is a scary thought and for most of you, fear is probably the reason why you haven’t moved past just thinking about what it would be like to own your own home or even consider buying an investment property.
So what are we so afraid of?
- Making the wrong decision?
- Doing something and failing?
- Losing money?
- Being hurt?
- Disappointing our loved ones?
- Embarrassing ourselves?
- Or are we afraid to actually be successful?
The fear will always be there … I know that and you know that. But when it comes to property investing, my fear now sits in a little box that is rarely opened. I never let it stop me from moving forward. I’ve overcome the fear of failing, making the wrong decision or embarrassing myself because my fear of being financially stuck in the same place for the rest of my life was even bigger! And that is something I just couldn’t live with. So I figured out a way to overcome my fears by always asking myself “what’s the worst case scenario?”. With each big decision that I make and with each new property that I purchase, I always consider the worst case scenario and how that will impact our portfolio, and more importantly what the outcome will mean for my family.
This is my way of dealing with my fear of making the wrong decision. And over time I’ve actually realised that there are no wrong decisions because in the moment that I made it, it felt right. And if it didn’t end up being the best decision at the time, I’ve learned a valuable lesson and won’t do it again.
Regardless of what your fears are, you can overcome them and put them back in the box where they belong. Here’s some helpful ways to push through your fears:
Acknowledge – recognising and admitting that something scares the hell out of you is the first step in getting past it. Talk about it or even write it down, and be in control of it because the more control you have, the less control IT has over you.
Accept – knowing that fear is completely normal and an emotion that everyone experiences, will help you accept that it’s simply part of the process of personal growth. Fear is what will push you through to your next level of success, but only if you don’t allow it to stop you from taking action.
Advice – what better way to understand your fear and face it head on than talking to someone who has already experienced what you want to do. There is always someone out there who has been there before and accomplished the same goal that you currently have, and in most cases they are more than happy to share their experience. Ask questions, understand the process and learn from them. It will help you realise that the fear you’re feeling isn’t that scary after all.
Action – without a doubt, taking action is the fastest way to free yourself of your fears and move forward. Anything that is new and out of your comfort zone is always going to have an element of “what if something bad happens” or ‘”what am I getting myself into”. So, make a plan and take action … because even the smallest step towards your goal is making progress. Buying a property may be scary for you, but making a phone call never killed anyone, right?
We all have fears. We all wish that we didn’t.
Don’t let fear stop you from living your best life and making a difference.
Put fear back in its box and know that you are stronger than it will ever be.