Hey BP family. I am still new to REI and am learning as much as I can before I start. I have heard the advice to know as much as you can before entering your first deal.
But then there is the other side of the coin to not spend too much time convincing myself that "I need one more podcast/book/article/etc before I can begin" and just get out there.
I know that no one can ever be 100% ready for anything, but when do you feel is fine-medium of having knowledge so you don't get killed on your first deal but also not waiting to finish "one more book" before you start.
Michael, as often said on the podcast, you won't get rich on the first deal. The first deal is to build up knowledge and create momentum. I would say based on the way you're asking the question, you're more than ready to jump in. Keep in mind worst case scenarios, if everything in the world goes south, you can always sell the property, yeah you might lose some money, but if you never jump in, you'll just have to live with regret. I'd much rather lose a few thousand dollars than live life thinking "what if."
@Landon Bleau thanks for the feedback. That is true, never really thought that even if it goes south fast, I could just sell it