Spring into New Experiences!
Personally, I love the month of March. Not only is it filled with many family birthdays (including mine!), it’s also typically when we start to see the cold of winter melting away as we enter into the Spring season.
When I think of Spring, I think of new beginnings. As we observe signs of renewal and rebirth taking place all around us within nature, it often makes me think of what other new experiences life has to offer.
Doing something new for the first time can feel exciting and scary. Physiologically, there is actually little difference between fear and excitement – that means, you are in control of your mindset around new experiences. You can always re-frame your perspective to “I’m scared/anxious!” to “I’m excited!” – one state of mind holds you back while the other encourages you to move forward.
I’m constantly experiencing this feeling of excitement/fear as I continue to grow and push myself out of my comfort zone. Even within real-estate investing, I still get that feeling of excitement every time I put in an offer, close on a property, or work on creative ways to grow my business.
For example, last year was the first time I decided to become a Private Lender. At first, I was nervous, as I was actually using debt as my funds to lend out; but I felt confident in moving forward because I understood how this strategy worked and wanted to test out this type of investing approach for myself.
Here’s how I got into my first private lending experience:
- Lent out money from my low-interest rate HELOC, which cost me approximately 3.5%;
- Charged the borrower 15% for a short-term bridge financing loan;
- All of my fees were paid by the borrower;
- Over half of the loan amount was returned to me within a month;
- The remainder was a balloon payment returned to me before the end of the term, just in time for me to use those HELOC funds as a down-payment on another investment property.
Overall, I was extremely happy with my experience and that I didn’t let uncertainty stop me from trying something new, growing in the process and making some extra money too!
So, what are some goals or new experiences that you’ve been meaning to do over the years and have just been held back by fear?
Do you want to purchase your first investment property or try out a more passive private lending strategy? Do you want to learn more about how to creatively use your money to earn you income and perhaps you’re just unsure of how to get started? Education and knowledge are often the first steps in alleviating uncertainties and stepping into a feeling of excitement.
I’m happy to share what I have learned on my journey so far, so feel free to reach out and book a time to chat.
Wishing you a joyful Spring season ahead, filled with many new exciting adventures!