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Posted over 8 years ago

Info Overload: The First of My Mistakes!

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Make no mistake: I am a fledgling when it comes to real estate investing. I don’t know much today, but definitely know more than I did yesterday. So why would I write about information overload when I am such a “newbie?”Cuz, in the immortal words of Trailer Park Boys character, Jay Rock, “It could happen to you cuz it happened to me!!!”

I thought it would great to have forum topics pop up in my email until they started showing all day long. All the high quality information became an incredibly effective distraction. I lost sight of my targets and goals. I discovered (once the anxiety set in) I needed to drastically limit the knowledge input and took action. It all started in the BP Forums.

BP Forums are great! They have a huge wealth of information on all things REI. I love all the insights from everyone, and figured it would be great to have some of the information sent to my email so I could stay up on the conversations all day long. In theory, it sounded great: then there’s practical application!

The dreaded blue light on my Galaxy Note Edge was flashing constantly. I couldn’t help myself… I HAAAAD to read the text or email that arrived.

“New discussion in XXX Forums at BiggerPockets” was constantly driving the flashing, addictive blue light.

Tax Liens, Foreclosures, Tenants and Land Lording, Creative Real Estate Financing, and more: they were pulling my brain in so many different directions. All of it was (and is) great information that pulled my attention and focus from my targets and goals. Anxiety crept in. I wondered what to do next and, eventually, just “what should I do now?” I felt confused and disoriented. I was a man with a couple of clues two or three days earlier; moving with confidence, purpose, and resolve. Yesterday, I felt like a clueless babe in the wilderness uncertain of the next step I should take. So I retreated to my “happy place” (my drum sticks and practice pad), played little exercises and rudiments, and pondered my situation. I discovered what is now painfully obvious: way too much information that did not help me down targets and reach goals!

Focus on my first target needed to be restored: finding a multiunit to buy and hold. I played paradiddles in my happy place as Paul Myers’ definition of focus (in his book Need to Know) came to mind: “Wanting something so bad that you measure every action against the answer to this one question… ‘Does this move me closer to what I want, faster than whatever else I could be doing?’” Most of the incoming information did not “move me closer….”Therefore, I chose to avoid such information until this first target is down. Different subjects will get their due diligence when the next target comes into view. I left the land of paradiddles behind, hopped on BP, and deselected the vast majority of forum feeds to my email account. I now focus all my learning objectives on topics directly related to obtaining my first buy and hold property.

So there it is… Fledgling mistake number 1: self-inflicted information overload. This will not be the last one either. BP has no blame in this. It is an incredible site and community that provides great information about all things real estate investment. I had the site send information to my email account and it worked like a charm. The problem was me. I could not handle all the information flowing in from all those forums. Anxiety crept in, confidence waned, and I retreated to the land of paradiddles! I recalled Paul Myers’ definition of focus, returned to BP, and reduced the forums feeds to buy-and-hold specific information .Confidence, purpose, and resolve are restored.

I don’t know much today, but definitely know more about myself than I did yesterday. So why would I write about information overload when I am such a “newbie?” “It could happen to you cuz it happened to me… C’mon, C’mon!!!” It’s rap from Sunnyvale trailer park in Nova Scotia.

That’s my rumor, and I’m sticking to it!

P.S. I am happy to report that pre qualification is in work and I’m working with an agent to find multiunit properties that fit VA Loan requirements.



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