Analysis paralysis: How to start making progress
Hoping someone here will be able to point me in the right direction and help me Narrow down my next steps so I can begin making trackable progress towards my first deal.
I have been researching different strategies and methods for a very long time now (too long) and I feel the more research I do the deeper into analysis paralysis I go. I fully understand there is no right or wrong method / answer and every strategy has its pros and cons. However by continuing to over analyze every single aspect I am making zero progress in getting my feet wet and getting the real experience. it’s time I jump in. I want to be aggressive in my strategy but at the same time I don’t want to end up setting myself up to fail. I prefer a plan that gives me a little wiggle room to account for the mistakes I will inevitably make but also being aggressive enough for it to be worth my while
I have a decent amount of starting capital 350-400k which only seems to make my decisions even harder since it pretty much puts all strategies on the table and gives me the option to leverage a good amount.
I understand all of the strategies, and have a pretty good understanding of real estate in general, however I am struggling with putting it all together and Formulating the plan to follow. I would love to hear your input and detailed plans that you would execute on, or have executed on if you had 350 to 450. I would also love to hear where you would look for these deals so I can narrow down a few Niche market to start really focusing in on. I prefer to get as many doors as I can while also balancing an area with good long term appreciation
I’m open all strategies and markets but leaning towards long term multi family.
I’m in Denver which I feel It’s a challenging market for the strategy I am looking at.
Again I am open to other strategies as well as other markets. I would love to hear your suggestions on how you would utilize this capital to generate a not overly safe but also not overly aggressive balanced appreciating vs cash flowing opportunity with more of an emphasis on the cash flow aspect.
Thanks in advance