How Do I Get Started Investing in Real Estate?
- Christian Bryant
- Apr 2
- 3 min read
As the President of NWREIA & PAROA, one of my top responsibilities is mentoring aspiring real estate investors. Approximately 90% of my new clients are individuals I have previously assisted for free or referrals from those clients.
Over the years, I have guided hundreds of investors, and I consistently observe that new investors face similar challenges. There are three primary obstacles that every investor must overcome, and in my experience, most struggle with at least one of them. These hurdles represent the essential skills every successful real estate investor should master.
1. Building Relationships and Networking
The first hurdle is developing effective communication skills and being likable. An investor's net worth is closely tied to their network. As a former introvert, I understand the challenge of engaging with new people. Initially, I was quiet in professional settings, but to succeed, I had to learn how to 'work a room' and engage in meaningful conversations with strangers.
I began by reading books on interpersonal skills, which proved invaluable. The breakthrough came when I realized that the key is to relax, focus on the other person, and listen actively. Ask about their work, family, and goals without getting too personal, and genuinely listen to their responses. Resist the urge to interrupt and respond thoughtfully. Always keep in mind how you can assist them, while being respectful and polite.
2. Overcoming the Fear of Starting
The second challenge new investors face is simply getting started. Committing to your first deal can be intimidating. Concerns about financial loss, debt, or legal issues can be overwhelming. However, at some point, you must take an educated leap into your first investment. Many individuals talk about entering the real estate market but never take action. Ask yourself: what happens if you never try? While financial security is important, consider the life goals you might forfeit and the years you could add to your retirement age. These realities are far more daunting than the fear of failure.
Remember, I emphasized taking an 'educated' leap. Real estate investing is inherently risky, and thorough research and due diligence are crucial before committing to a deal. Nonetheless, there comes a time when you need to trust your analysis, education, and the advice from your mentors.
3. Committing to Real Estate Investing
The third hurdle is understanding that real estate investing is not just a hobby. Here’s some tough love: you must fully commit to making this work or move on. Treat your investing endeavors as a genuine job. While the dream may be to work only 10-20 hours a week on your portfolio, that typically comes after years of hard work. Initially, you need to dedicate as much time as possible, whether it’s five or eighty hours a week. Focus on self-education, attending networking events, taking real estate investing classes, and identifying or analyzing your next potential deal.
If you’re ready to tackle these three hurdles, the next step is to determine your first investment. Your financial situation will largely dictate this choice. If you have funds available, you’ll have more options. I recommend selecting something that genuinely interests you. If cash is tight, consider starting with lease option deals, which require no cash investment and won’t depend on your credit. There’s a first deal suitable for every investor level, so there’s no reason to hold back.
Take action and get started! What are you waiting for?
Christian Bryant
President of NorthWest Real Estate and Property Management
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