I recently had a conversation with a client that was buying his first flip. We were going back and forth about a couple of items and he was pushing back on some aspects of our loan. After a bit more discussion, he finally admitted that he was just nervous. Nervous that he’d purchase the wrong house, nervous about the money he was borrowing, nervous about making the right rehab choices, nervous that his flip wouldn’t sell. This wasn’t the first time I’ve had this type of conversation with the same motivation, being nervous.
Being nervous, having butterflies in your stomach, whatever you want to call it, is your body’s reaction to being pushed outside of your comfort zone. We all have comfort zones. Some of us know where they are and how big they are and some of us do not, but they are there. When you start getting those butterflies, you know you’ve ventured outside of your comfort zone. But being pushed outside of our comfort zones is a good thing. Just outside our happy little bubble lies exactly what we want. That is where we want to go. That is where the grass is greener. But there is risk in going outside of our comfort zone. We don’t know what is out there. We don’t know how hard it will be. What if we fail? Maybe it means you have to make some cold calls or act like the expert to a motivated seller. Maybe it means moving up into a higher price point on your flips or leave the world of flips for new construction.
Being nervous is a good thing. It is what keeps you honest. It is what will make you spend just a couple more minutes pulling those comps to make sure you have your ARV right. It is what will help you have those tough conversations with your contractors to complete the job on time and on budget. It is what will get you up and out of bed in the morning (and sometimes at night!) to make sure you ran those numbers right or dropped that check in the mail.
There is risk in stepping outside of our comfort zone. But with risk comes reward. We need to be pushing ourselves every day. It doesn’t have to be big. Maybe it is as simple as not hitting snooze 7 times, only 6. Whatever it is, push those limits daily.
Where are your comfort zones? What are you doing every day to push those boundaries? Leave us a comment on Facebook and let’s see if we can help you expand outside of those comfort zones.