Real Estate News & Commentary

Frozen by Paralysis of Analysis?

Expertise: Personal Development, Real Estate Investing Basics, Business Management, Mobile Homes, Real Estate News & Commentary, Landlording & Rental Properties, Mortgages & Creative Financing, Real Estate Marketing
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real estate paralysis of analysis

Have you ever questioned how other people see you?  Almost everyone thinks these thoughts daily on some conscious level.  If you have a fear of speaking to others or simply a lack of confidence then perhaps you should pick a new “Investing Persona.”  Through constant development this has helped me make improvements to my personal growth which has directly related to improvements in my mobile home investing business.

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Whether consciously or unconsciously we all choose the character(s) that we appear to be when we interact with others in daily social and business life.  It is important to first realize that you control how others should perceive you.  The confidence you portray, how you speak, your emotional levels, and how you relate to others or to total strangers, all tell volumes about you without directly communicating these words.

Please keep in mind your persona is primarily useful to help you build internal confidence when calling sellers, interacting with tenants, talking shop with sellers, socializing with other investors, and so on.  A persona is not useful for everyone as you may already be perfectly comfortable as you are and 100% confident!

Below is a short list of a few popular personas that I have seen others use (consciously and unconsciously) with mixed success.

Newbie – This is the persona embraced by most ‘active’ green investors in the market.  You may be perceived as unsure, timid, and inexperienced; which you may be however others need not know.

The Employee – The employee works for a company, group, partnership, or other institution larger than himself/herself. In this case the decision making processes is seemed to be handled by others, which may relieve personal stresses.

Yourself – The person you currently are while in the real estate field is your current persona.  Are you confident? Or are you a perpetual ‘Newbie?’  Refine your character by making conscious and goal-oriented adjustments weekly.

The Good Samaritan – The Good Samaritan is simply trying to help others before helping himself.  This character will absolutely be perceived as a fake if you are not sincere in your empathy for truly helping others first.

The Good ‘ole Boy – The Good ‘ole Boy tells it like it is and lets you know what they are thinking at most times.  Good or bad you know what you get and what to expect with the Good ‘ole Boy/Girl.

Twins – Have you ever had financial troubles in the past?  Did these troubles lead to a personal short-sale, foreclosure, or REO? If yes, then you can develop an almost instant rapport with a seller in the same current situation.

Big Money – A Big Money persona is one that knows they know their stuff and loves to let others know it.  Big Money likes to close quickly and on their terms.  Big Money is confident, well dressed, may come across a bit arrogant but he/she gets the job done.

Two things to notice about choosing your Persona:

1. Notice how ‘Pushy Salesman” was not in the list above.  A quick way to lose business is to internalize a one-sided, pushy, only-after-the-sale persona. Always remain ethical and honest.

2. Wear your persona like you wear clothes.  Pick and choose the good traits/qualities of certain personas you like and disregard the others you disapprove. There is no right or wrong — simply what leads you personally to sales and what does not.

The important take away here is to know that personas do exist.  Build your inner confidence through building your outer persona. Whether congruent or opposite of your normal day to day demeanor; if you have to stand on one foot facing East to muster the confidence to make purchase offers daily then start hoppin.

– John Fedro

Photo: Claudio Gennari

Investing since 2002, John started in real estate accidentally with a 4-bedroom mobile home inside of a pre-existing mobile home park. Over the next 11 months, John added 10 more mobile homes to his cash-flowing portfolio. Since these early years, John has gone on to help 150+ sellers and buyers sell their unwanted mobile homes and obtain a safe and affordable manufactured home of their own. Years later, John keeps to what has been successful—buying, fixing, renting, and reselling affordable housing known as mobile homes. John shares his stories, experiences, lessons, and some of the stories of other successful mobile home investors he helps on his blog and YouTube channeland has written over 300 articles concerning mobile homes and mobile home investing for the BiggerPockets Blog. He has also been a featured podcast guest here and on other prominent real estate podcasts, authored a highly-rated book aimed at increasing the happiness/satisfaction of average real estate investors, and spoken to national and international audiences concerning the opportunities and practicality of successfully investing in mobile homes.

    Austin Birt from Lansing, Michigan
    Replied over 3 years ago
    Well written. Great topic!
    Alexander Ramos from Bedford Park, IL
    Replied almost 3 years ago
    Great read!