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            Real Estate is local.  Real estate Investing is NOT.  Finding and investing in rental property or rehab deals outside of your town, or state, is not as difficult as it may appear.  The fear is in perception, not fact.

Fear #1 – “I Have No Control”

            In all reality, things are going to go wrong no matter if you’re watching over them like a hawk, or you’re hibernating in Siberia.  The only way to mitigate problems in your real estate investing business is to prepare and prevent; you need to have the right people in place to be a successful investor. These people include:

1 Property manager- they will watch over your property better than you would do

2 Insurance agent – in case something does go wrong, you’re covered

3 Inspector – they will find most problems, if any, even the ones you wouldn’t be able to see yourself

4 Contractor/handyman – even if you are local, You want to be an investor, right?; And not a tradesman?

            A true investor is the brains behind the operation, not the brawn.  Change your mindset and you will be in complete control.

Fear #2 – “I don’t know the Market”

            So, how do you find this information?  Talk to a local property management company, an investor who works in the area, or a realtor who knows the market.  Remember, this is an investment, like buying stocks, business equipment, or even a college education.  You have to do your research, and know what you’re paying for, or find someone who can cut the learning curve.   

            This is an investment, so treat it like one.  Get the information that you need to make an educated decision and be confident when you purchase your investment property that you are going to make money.

Fear #3 – “We’re in a recession and the Economy Sucks”

            Real estate is local, but real estate investing is not.  Pick a market that is a good place for making money and buy right, and the economy has no bearing on your success.  People still need a place to live no matter what the economy is doing, you may just have to adjust your investing technique according to the market.

            I even buy real estate in Florida and Montgomery, Alabama, as long as it makes investment sense.  Florida was a ‘bubble’ state that is inundated with foreclosures, which allows for some great discount purchases; and the Alabama real estate market has seen relatively little investor activity, which is exactly why it has some of the most profit potential in the entire country.

            If you want to make money investing in real estate, whether it is buying and selling, or buying and renting, make up your mind and go out and make it happen and don’t listen to the media and all the negative hype.  Most successful real estate investors make most of their money when the market is slow, because you make your money when you buy, and not when you sell.

            Overcome your fears of going outside of your own back yard and venture into the world of real estate investing success!