EP97 How to Overcome Limiting Beliefs for New Latino Real Estate Investors

Many new Latino Real Estate Investors feel stuck before they even start their real estate investing journey. That nagging voice in your head questioning your abilities or resources isn't just annoying—it's a limiting belief actively holding you back from building wealth.

As a first-gen Latina investor, I've battled these mental barriers firsthand. The truth is, these limiting beliefs—"I need to have it all figured out," "I don't have enough money," "ambition is selfish," and "I don't know where to start"—are psychological barriers masquerading as practical problems. They're rooted in deeper issues: fear of failure, scarcity mindset, concerns about judgment, and information overwhelm. Recognizing the real source of resistance is half the battle.

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Chapters

• 1:36 Introduction to Limiting Beliefs
• 4:02 Needing It All Figured Out
• 8:12 "I Don't Have Enough Money"
• 10:54 Money and Ambition Aren't Selfish
• 13:42 Not Knowing Where to Start
• 18:08 Identifying Your Personal Barriers
• 20:53 Course Overview and Closing

Transcript

Speaker 1: 0:48

What if something goes wrong? Maybe I am not smart enough to do this, or you know what I need to do x, y and z before actually doing this thing. These thoughts that you have in your head. You know that voice that's in there telling you these thoughts and telling you these beliefs. These are all limiting beliefs and they can hold you back from accomplishing your goals and dreams, and they can show up in many aspects of your life, including real estate investing, and so in this episode, I want to go over some limiting beliefs that I commonly hear from new investors or someone that's interested in getting started in real estate investing. I'm going to talk about the common ones. What really is the deeper issue and how you can overcome that voice in your head so you can actually get out here, start taking action and get out here buying real estate now. These limiting beliefs are actually part of my keys to cash flow rental property bootcamp, and I wanted to give you a sneak peek of things that are covered in this course. We go into not just the limiting beliefs but also setting your mindset, because overcoming these limiting beliefs and setting the right mindset is going to set the tone for your real estate investing journey, because you are going to always, something's always going to come up throughout your real estate investing journey, and so overcoming these beliefs now, or learning to recognize them and creating that strong mindset is going to help you overcome these obstacles. But other things that we are also cover in this course is, of course, how to calculate cash flow, how to analyze property and also a market property management. All that is covered in this course to get you ready to go buy your first or next rental property. All that information will be down in the description or the show notes. But yeah, let's get into these limiting beliefs.

Speaker 1: 3:14

The first limiting belief that I see is the mentality of I have to have it all figured out before I start, and what does this really mean? What's the real issue when you say this? And I feel it is the idea of perfectionism and the fear of failure and the whole hustle culture of our community, and a lot of times we never had the luxury of being able to fail because so much is riding on our shoulders. I know I felt this way as a first gengen Latina and also the first eldest daughter. Everything is on my shoulders. I am the person that is pulling my family forward. So I cannot make rash decisions, I cannot take too many risks, because if I fail then I fail my family. So then you build that fear and also a little bit of pride and ego comes along with it.

Speaker 1: 4:30

I'm going to say that because we do kind of get this eagle a little bit of being first and with that comes a little bit of that pride of being having to be perfect and wanting to be perfect and having to do it all correct the first time. Because, especially if you are an immigrant, then you have this mentality of that you have to be perfect, you have to deserve your opportunity here in the us and, uh, show that you are worthy, right? So sometimes it comes with that of having to be perfect. And so how do we overcome this mentality? How do we overcome this mentality? How do we overcome this limiting belief? Well, yes, you want to obviously educate yourself because you definitely don't want to jump into it blind. Believe me, I did and I made a lot of mistakes. But you also don't want to get stuck in the analysis, paralysis type of mentality or in that phase where you're just like downloading all the freebies and taking all the courses and stuff like that, and but you just can't seem to take that first step because you want that first deal, that first rental property that you buy, to be perfect. And so that's what we're going to do in this course. Yes, we're going to educate ourselves. We're going to learn a lot about how do you calculate cash flow and how to analyze a market and all of that. But we're also going to get out there and actually take that first step, because clarity is going to come with action, not the overthinking. You're going to think, think, think, think, but you cannot think of all the solutions or scenarios until you get out there and see how it's actually done and you may realize that it wasn't that hard. Or maybe there's things that you didn't think of at the time that you were learning all these things right and again, learning to be okay with failure, because at some point or another you're going to mess up and the only thing to do is to learn from them and continue, push forward. But also, we're going to plan for the worst. That doesn't mean that you're just going to like, accept that you know you messed up on a deal and lost money. We're going to plan for it and educate ourselves enough to reduce that risk Limiting belief number two is the belief that I don't have enough money to invest.

Speaker 1: 7:24

I hear this all the time and I had this mentality as well at the beginning, because I just thought about loans and I was like, okay, I gotta get a loan, but now I have to raise the funds for a down payment and so on. But, deep down, what is the real issue is the mentality that it's only for the rich. We have a little bit of scarcity mindset and some of us, you know, we have maybe some generational poverty or just poor financial literacy, or poor money management, or our families. We come from families that didn't know how to make their money work for them. It was just, you know, trading labor for money right and again, just the lack of financial education of what options you have. And so then, how do we overcome that is, of course, making sure that we understand you don't need to be rich to start. It's really just resourcefulness, let me tell you. Uh, there's a lot of people out here investing in real estate and they don't even have the funds for it. Personally, they learn how to do like creative financing, whether it's, um, buying a property from directly, from an owner, where they agree to sell it to you in payments or whatever. Or learning to get money from a private money lender or hard money lender, and all these options we're going to talk about in another module later in this course. So really is just learning what resources are out there and learning how to get that money that is out there, because I know a lot of people that have the money in the bank to like, some of them even have the money to buy cash, and so this limiting belief of thinking that you just don't have the funds to invest is, uh, not a real limit because, again, there's people out here that have the funds but it's more fear or lack of education or anything that they just don't want to do it. So, again, it's more resourcefulness, educating yourself on the various financing options that are out there, and we're going to get into that later in this course.

Speaker 1: 9:59

Limiting belief number three is that money or ambitious ambition is selfish. This mentality that money is evil and I'm not greedy, I don't want to be greedy, I don't want to like, buy up all these houses or whatever, and it's seen as selfish. But again, what's the real issue is, again being seen as greedy, the mentality of slum landlords. There's a lot of negative views on being a landlord, of course, and that there's a fear of being judged because of it, because you're buying properties and being a landlord and, of course, capitalism is bad, of course. That's the the big issue. I know I had to overcome this belief myself, but I had to realize that unfortunately, we do live in a capitalistic economy and we have to work with what we have and, like money is power, money isn't selfish, it's revolutionary.

Speaker 1: 11:18

Money gives you the ability to drive change, even if it's a small change for you and your family. And or if you want to go bigger and really make change in the communities that you invest in or just have funds to, you know, donate to a charity, because money is not only power but it's a resource that is used to help communities in need or lift communities and things like that. So our communities, we need bold and, you know, visible latinas that are out here building wealth and, even if you don't have the capability to do big change, just making that change for your own family, to get yourself out of. You know, trading your labor for a dollar, building, gaining financial freedom and building generational wealth for your family that's already changing, uh, and helping our community in itself. So don't knock that. You don't have to do a big change in the big world, right? And because when you thrive, we all thrive and it brings, it helps bring everybody up as well and motivate each other.

Speaker 1: 12:46

And the last limiting belief that I want to talk about is another barrier of not even knowing where to start. And I see this all the time and it kind of goes with limiting belief number one wanting to do it correctly. But you do all the things again. You do all the research, you learn all the things, you read all the books, listen to podcasts, you listen to youtube, but then at the end of the day you're kind of stuck on what is your next step? And then you just stay there, you just don't do it, and it's just like well, I don't know what to do, so I'm just not going to do it. And it's just like well, I don't know what to do, so I'm just not going to do it.

Speaker 1: 13:27

And so, right there, the main issue is information overload, because real estate investing is a huge umbrella. There's so many strategies. I know I was overwhelmed when I first started learning about real estate investing. That had I not already started, by accident, because I bought my first house, I house hacked it and then I you know rented it out and then I you know fell into real estate investing. Had I not done that and then started learning about real estate investing, I don't know if, like how long it would have taken me to actually jump into it, because when I started learning about it, there was so many things whether do I want to do an Airbnb? Should I do a midterm, long-term? You know what? What do I want to do? Mobile investing, rv parks, like? There's so many strategies out there that it can get overwhelming. So you get this overload of information. And then there's a lack of mentorship Again. Had I not had a mentor that helped me switch my strategy to what I have right now, multifamily like I would probably still be lost in the sauce. And then we have the issue of being the first one in our families. I don't know anyone over here that is investing in real estate, so it's just me. I'm the one, I'm the blueprint, so we have that as well.

Speaker 1: 15:14

And you have a lack of direction, kind of going back, a little bit of not knowing where you want to go with real estate investing. What do you want to do with it? Like, yes, the idea is to make money, and that was my big thing, why I jumped into real estate investing. Once I figured out I could rent out my house and stuff like that, uh it was like, oh, yay, I'm gonna make money. But then what? What am I gonna do? How, what, what do I do next?

Speaker 1: 15:40

And then there's a little bit of self-doubt as well that it is too complicated and kind of ties into the other limiting beliefs of that not knowing enough or not being good enough. I don't want to fail all that stuff. So you have a little bit of self-doubt. So, in order to overcome this is just understanding that you don't need to know everything, just what your next step is, your next immediate best step, whether it's, you know, paying off debt or understanding what financing options you have, where you want to invest or whatever. In this course we're going to get into that. Of course, by the end of this course you're going to have a roadmap of step-by-step what you personally need to do to actually get closer to buying your rental property and actually buying it. So, yeah, just remember that, start with the smaller steps and take one step at a time and trust yourself that you're going to figure out the next step as well. If you're a planner, like me, sometimes you like to plan the next few steps, but I always trust myself that by the time I get there I would have figured something out. And if you don't have it figured out by then, then you'll figure it out then right Now.

Speaker 1: 17:08

The thing with limiting beliefs is that these stem from your own personal experiences, things that you've gone through and stuff that happens to you that stays with you. So, learning how to identify what the actual issue is when a negative thought comes up, like feeling like, oh, it's too complicated, it's because you don't feel that you are not smart enough to you know, do all these calculations. And then it goes deeper into that, like why do you feel that you're not smart enough? So learning what your personal limiting beliefs is half the battle, because then you have to learn how to overcome them. Because and I love this quote if you accept a limiting belief, then it will become a truth. Truth for you, and it's by louise hay, and exactly exactly what it says is you have to learn how to overcome these and not actually be a limiting factor uh, preventing you from getting started on whatever it is with your life right, because then it becomes the truth.

Speaker 1: 18:23

So what are your personal limiting beliefs and how can you overcome them? Take your time and address what is it that is limiting you, what is stopping you from actually taking that next step, taking that action step to go out there and start buying your first? Or maybe you're uh on wanting to get your like second or third rental property, but for some reason you've been kind of stagnant. You've been on hold because you don't know what to do next, or whatever it may be. Or maybe you were like me at the beginning where I just jumped into it and then now you're kind of like overwhelmed with all your choices. So definitely take your time, figure out what those limiting beliefs are and reflect and kind of troubleshoot and brainstorm about what you can do to overcome them. And you're going to have to do this throughout your real estate investing journey. Random limiting beliefs come up for me all the time, especially now that I want to pursue a new strategy, now that I have my current strategy kind of down. I want to challenge myself. So I have some limiting beliefs coming up for myself.

Speaker 1: 19:43

Again, this was a sneak peek of my Keys to Cash Flow Rental Property Bootcamp and we again, like I was mentioning, we also go into the mindset portion and your goals and your vision, and then we cover all the knowledge that you're going to need, all the skills and other resources and all that is in this course. It's a self-paced course. All the information will be down below. But, yeah, other than that, that's it for this episode and I will see you in the next one. Bye.