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We've been talking about ways to reduce risk for beginners so you can muster enough courage to do that first deal.  One of the best ways to mitigate risk in real estate is by doing a thorough financial evaluation as part of your due diligence.

But here's a great tip from our friends over at FlippingHomes.com.  Using a Letter of Intent to make your offers is a great way to ease your nerves as a beginner and I strongly encourage you to start applying this idea if you are having trouble getting started.  I used this approach myself when starting out and it certainly helped me.  I remember being quite anxious signing a contract for the first time.  So for those of you looking for a little more peace of mind, this might help.

So, there you have it.  A quick and easy tip today but a very effective one for beginners.

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I know of some people who have become totally caught up in the euphoria of newfound knowledge and just couldn’t stop buying audio programs and attending very expensive seminars and bootcamps.  This seminar junkie must have spent at least $50,000 within a 12 month period and still hadn’t bought their first investment property.  They were just bouncing around from one great idea to the next.

I don’t know whether, in their case, it was because they were just caught up in the excitement of that environment, whether it was their way of convincing themselves they were active when they may have been too scared to get started, or they were honestly trying to find the best strategy for them.  I’m guessing it was a mix of these things.

Full article… Don't Become A Seminar Junkie: Experience Is The Best Teacher

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