Can real estate be compared to the latest fashion fad that has taken up the world with great enthusiasm? To me, it sure feels that way.
Real estate is one of the most successful industries in the world and it feels as if it is a crowded market where people all around me are desperate to buy – or grab if needed – at least one part of what is being sold. Am I describing today’s experience of investing in real estate? The answer is yes indeed!
I don’t know if it’s a fantasy born out of COVID fatigue or just the desire to earn a slice of a multi-billion dollar pie, but it seems like many people have been wanting to get into real estate lately. If you take Toronto, for example, the hot real estate market consists of around 42, 830 licensed sellers. The reality is that while real estate is not s-o-o-o easy – landlords don’t really get rich in their sleep – it is one of the best instruments to diversify your investments. If you are good at self-promotion, you are going to make money. And, if you know how to find undervalued properties or creative structure deals that provide equity or cash flow, you are definitely going to be “happy.” However, despite these upsides, why does an average American keep his distance from real estate?
I’m sure you’ve heard of this line many times, “You know, I’ve been wanting to invest in real estate, but….” The “but” here represents the fear of the unknown: “What if it doesn’t work?” “Is it risky?” “How much time would it take?” “Do I have the necessary requirements for a real estate agent?” “What if it turns into a failure?” “Where will I get all that money to invest?”
You know what, I understand why real estate scares you so much. It’s basic human nature. You are scared of stepping out of your comfort zone. When it comes to investing in real estate, the fear of failure is one of the biggest barriers that will hold you back from trying it out. You are scared of being taken advantage of and you are scared of not being able to tackle the risks and losses that might come along with the investment. I think most of the time, people are just overwhelmed by the “seeming” complexity of real estate. It’s not rocket science, but you are scared of going through any unpleasant experiences and failing to understand the nature of real estate investment.
It’s true that investing in this industry is not everyone’s cup of tea, but if it’s your dream to quit your job and get into real estate full time, then the only way to get over fear is to seek refuge in the following Biblical scriptures.
Bible Verses to Overcome Fear of Real Estate
– Psalm 46: 1-3
“God is our refuge and strength, a very present help in trouble. Therefore we will not fear though the earth gives way, though the mountains be moved into the heart of the sea, though its waters roar and foam, though the mountains tremble at its swelling.”
– From Isaiah 41: 10
“So do not fear, for I am with you; not be dismayed, for I am your God. I will strengthen you and help you; I will uphold you with my righteous right hand.”
– From Philippians 4:6-7
“Do not be anxious about anything, but in every situation, by prayer and petition, with thanksgiving, present your requests to God. And the peace of God, which transcends all understanding, will guard your hearts and your minds in Christ Jesus.”
-From Psalm 23: 4
“Even though I walk through the darkest valley, I will fear no evil, for you are with me; your rod and your staff, they comfort me.”