Suffering from self-diagnosed Over-analysis-Paralysis! What to do?

Question

Recently moved to IL and have not been able to get out of this rut. I look at property often but have not been able to pull the trigger on any. If anyone out there has any suggestions or maybe even a size 10 or smaller to kick me in the motivator please do so.

Vince Cochran · Answer

Thanks for the suggestions Jeffrey, I think I sent the wrong vibe. I've owned 100's of properties, took too much time and on the 1st of the month everyone's 7ft tall and bulletproof. It was just the change to an unfamiliar place that has me a little stuck. The account is very comfortable, but thanks for suggestion though, the Home Depot bit was funny!LMBO!!!!

Account Closed · Answer

I'm not a wholesaler, but you have done many deals in the past.  Sounds like the real issue here is becoming familiar with your new market.

Are you firmly aware of what your deals could sell for after repairs?  I would assume that you have a fairly good idea what repairs costs are in your new market.

Perhaps you are still getting to know demographics, what each location is like, etc.  There are some wholesalers that might be able to offer suggestions for a quick way to get to know your new area.  Once you have a better feel you will probably be able to pull the trigger easier.

Jeffrey K. · Answer

I'd say if you are trying to wholesale property and you cant pull the trigger with no skin in the game then I would just give up and get a second job (you could be making money while you waste time looking at real esate and post here on BP)..  REI is not for you.  If you like real estate, maybe you could work as a reltor, in construction, at Home Depot, at a mortgage company, or at a title company.

Vince Cochran · Answer

I'm looking to start back wholesaling, I've been out for a few years and I feel out of touch.

Eddie Ziv · Answer

MY first instinct is of saying - Nike!!!  JUST DO IT!!
However, if you find yourself contemplating too much after finding a prospective property. Make a list of two columns.
Column 1 - pros
Column 2 - cons
if column 1 is longer then column 2 then - JUST DO IT!!

Shanti S. · Answer

Hi Vince do you have a focus as far as what type of property you want to buy, in what area, and what you want to do with them?  Do you have the money or financing set up so that the only thing stopping you is your own decision?

It is good to have options but there are so many options in real estate I think it can be overwhelming to newbies.

Vince Cochran · Answer

I have been all over the place,REO's look good, notes and tax sales look good, taking too much in, maybe need to focus on what got me to this point and leave the rest for another time,

Randall Rose · Answer

What are you looking to do? Flip...Hold.