I have always been interested in Real Estate Investing. I haven't however been serious about it until recently. I joined BP and have read their free books and listened to a few podcasts this week. I know analysis paralysis is a big hurdle for new investors and I wanted to know, how long should the average person studying an hour a day take to have enough of an understanding to get into the market? For example, if i have been taking a hour a day to read and network with investors and in 6 months still haven't gotten pre-approved for a loan would you say I've hit that analysis paralysis wall?
Looking for a basic timetable of how much everyone studied before jumping in.
There is no timetable. As @BrandonTurner advises, pick a property and work the numbers every day. You don't have to do the deal. Just figure out if it is one to invest in or not. This way you will get experience with evaluating deals and will gain more confidence in yourself. When you find the right one you will jump in.
I've been on here on and off for a while doing the whole analysis paralysis thing. You could always start running numbers and doing the math on deals and posting them. Even if it's just an exercise in getting good at spotting deals maybe someone will want to partner on something you find.
I had started studying real estate when I was 22 and bought my first primary residence when I was 27 and my first investment property when I was 31.
Having that said your time table is what you make it to be. You establish this by setting goals, making a plan to hit those goals and executing on those plans. If you do not do this it is like trying to get somewhere with out directions.
Not everyones path is the same. Come up with your own time line and Get'er Done!
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.