Post 2 - I have no time, no knowledge, no money
So what was I really afraid of? What prevented me from investing in real estate?
I was afraid I didn't have enough knowledge To engage in real estate entrepreneurship. I diminished the importance of the knowledge I gained in accompanying hundreds of real estate transactions, in which I researched every nook and cranny, from entrepreneurial considerations, procedures, characteristics in the local market, the right credit mix for the deal and more. I said to myself: There are many more things you do not know, and many more that you do not know you do not know.
so what to do? I'll just learn more, because maybe then I'll know enough to start .. So what did I do? I made excel (as usual???? ♀️) Which compares tax treaties in different regions of the world. I was looking for where to invest.
Ummm .. no. That's just what I told myself. in practice I was actually looking for reasons why not invest.
Until… I stopped in the middle of the calculations in Excel and said to myself:
1. You always tell your customers not to let the fear of taxation stop them from growing and 50% of 100 is greater than 100% of 0, so come on and do 100 !!!! It is indeed mandatory to do investment tax planning! And yes, there is a tax! So what? Put the expected tax into the business plan and if it still makes sense, go for the deal! This tax is no excuse not to do.
2. How much knowledge will provide you to feel confident enough to start investing? You love to know the general, so when will you feel that you know enough and start using this knowledge? Then I realized I just had to do! There is a balance that needs to be made - on the one hand you can not wait until we know everything (because we will never know everything) and on the other hand, you must know well enough that anyone who enters an investment without knowledge or partners / investors with knowledge will find himself very quickly writing a post On Facebook about how much real estate investing in the US is dangerous, and of course it is dangerous when you do it without knowledge…Know that you can achieve, and important to achieve, just have to note that we do not use it as an excuse not to do.
I was afraid I didn't have enough time. Work, children, tasks..Who has time to do market research ?? I don't have time for that, so I'd better not go into it at all. I really didn't have time, because I didn't allow myself to spend time on the important things. I was only concerned with what was urgent. But when will I have time for myself? Investing in an asset that is me, investing time in things that will advance me in life, financially, personally and mentally? When? It was only when I broke into thinking patterns that did not advance me that I was able to find time.
I was afraid I didn't have enough money. Like most entrepreneurs, I was not born in a box of dollars. On the one hand, I did not experience any shortage, but on the other hand I did not experience insane abundance. A perfectly normal economic situation, middle class.
So I told myself that only the rich deal in real estate, and that if I do not have some good zeros in the bank (on the right side??), So I can't enter. And anyway, I have money but not too much, then Isn't it a shame I risk what I have?
Then I realized that as an accountant and as a former banker, my knowledge of the world of finance can help me make more money. I'm the one who chose not to use it! And if I just choose I will know exactly how to raise the financing and also what is the credit mix that will fit my financial plan. Beyond that, when I started, I learned new worlds of finance (OF, SUB 2… My, oh my). Then I don't have enough money is just an excuse?
Acquiring knowledge is the easiest thing! Google, courses, everything is available to us! And if we don't know, we'd better find someone who knows to be on our side. It is also a way of acquiring knowledge and is extremely effective.
Finding time is the easiest thing! If I share with you that my life is in the crates as I write these lines, and yet, I found time, is that compelling enough?
Finding money is the easiest thing! Banking in Israel, Hard Money, Investors, Partners .. There is a lot of money looking for good deals.
The hardest thing is to break thinking patterns and really do something with our knowledge, time and money!
Everything else is easy.
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