Many years ago, when I was learning to trade stocks and options (which I subsequently did for a couple of years but no longer do), you are taught to “paper trade”, which means you make real trades but you’re using “fake” money, i.e. paper money. Many trading accounts let you paper trade. It’s a fantastic way to get experience and build track record without losing your shirt.
We don’t have this in the real estate investing world. But we should. And we can, if we’re intentional about it.
Newbies are stuck in the endless cycle of having no experience to be taken seriously so they never get started and never the get experience to get out of the gate.
“Paper-trading” with real estate lets you overcome this “catch-22”. In this article, I talk about how you can “make it by faking it” by paper-trading with real estate.