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Fear of failure certainly is one of the "seven deadly fears," but you'll find that there's no reason to burden yourself with the fear of failure in the real estate business unless you're careless or unless you haven't learned the business. There's no need to fear failure in the real estate business because there will always be a need for rental housing. There are people out there who don't want to own property—some can't afford a home, single working people aren't ready to buy, and so on—and there's a workforce that moves about that will always remain renters. As housing prices rise, and they will, there will be more of a demand and need for rental properties. The fact is, the need for rental property hasn't changed, and there's as much need now in the 21st century. Some investors make poor decisions because they don't have the patience to wait or conduct the necessary real estate owner search. They want to get rich right now, and they are easy targets for get- rich-quick schemes. The real estate investment business is not a short term business. It takes time and some long-term thinking. In fact, it took me 15 years to realize the income from my initial investments. The good money in this business is made by those who take their time, think seriously about how that investment works, and stay ahead of the game. I suppose that's why 10 percent of the people in this country own and control 90 percent of the wealth. This book probably won't get you into the 10 percent category; however, it should get you started in this business and on your way to independent wealth. In the real estate business, time is on your side. Therefore, patience is a virtue you'll want to develop and nurture. There's no reason to buy the first property you look at. This is especially true when it comes to property that needs to be renovated. Because I waited three years for a purchase to be completed, I was able to buy it at my price. Realtors know there aren't many renovators in the business, so they are usually cooperative and helpful. After all, renovators are a source for them in selling rundown properties. Some time ago I was contacted by a realtor about an older two-story, three-bedroom family home. The parents who had lived there had died, and the property was being held in an estate. The estate couldn't be set¬tled until the property was sold. The property was located in an excellent neighborhood. Most of the homes were valued in the high five-figure price range. However, the old family home was run down, and it needed a paint job, some rewiring, and a new roof. The yard was unkempt and had a generally shabby appearance. I imagine the neighbors were becoming discouraged with what was happening. Some people have gone so far as to buy real estate books. They have read them and convinced themselves that they can do it. They truly believe they are going to get started, but then they wait... just a little. Soon the motivation wears off and many get burned out with following up on their real estate owner search, and the stall leads to waiting too long. They put the books aside, go back to their daily routine, and forget pretty much everything they've started on. The next thing that happens is that they find out the duplex or apartment they had looked at has been sold. For more information about Real Estate Owner Search and Find Someones Address, log on to Peoplelocatorskiptracing.com
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