What is the #1 Barrier to Buying Your First/Next Property?

What is the #1 Barrier to Buying Your First/Next Property?

When:

Where:600 Plandome Road Manhasset, New York 11030

Cost:Free

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Suzanne PlayerPro Member
Attorney · New York City / Long Island, NY · Member since 2020 · 597 posts · 248 votes

"I've always believed that training with great players makes you a better player."

- Javier Mascherano, Argentine professional football/soccer coach

“The journey of a thousand miles begins with one step.” - Chinese philosopher Lao Tzu

January is a month when a lot of people - especially investors - are setting goals and planning their year. Many are looking to buy again in 2023.

What is the #1 Barrier to Buying Your First/Next Property? What are the next practical steps?

Need for (More) Cash?

Not sure if You Have Enough Knowledge/Experience in Investing?

Not sure if you should invest within driving distance or go out of the area?

Worried about the safety of Out of State Investing?

Not sure where the economy is going & whether to move or wait?

Networking – you don’t know enough people who can help you

Properties – you know what you’re looking for, but can’t find it

Property type – you haven’t decided whether to buy residential (single family, 1-4 unit multi-family) or commercial (apartments, mobile home park, mixed use, or commercial buildings)

Strategy – you don’t know whether to be a landlord, a flipper, or a wholesaler

Bring your investing questions, none are too basic, we've probably heard the question before.

For any of our meetings, further topics may be added, as always, anyone who has an idea or something to share is welcome to bring it up & talk about it with us.

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Real Estate Agent · Seattle, WA · Member since 2017 · 150 posts · 80 votes
3y

My biggest barrier for my next property is Cash to purchase and Finding a property discounted enough where the numbers make sense.

See this reply in the discussion

6 Replies

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  • Will FraserPro Member
    Real Estate Broker · Salt Lake City & Oklahoma City · Member since 2018 · 3k+ posts · 2k+ votes
    3y

    For me it's making sense of the numbers.  This would be far from the first property for me, but somehow I'm still coming up blank when running numbers at the current asking prices paired with the current cost of debt.

    I suppose the good news is that offers are (relatively) free and the stability of real estate as an asset makes it a great place to park cash, so it's really a lead-flow issue.

    How about you @Suzanne Player?

  • Suzanne PlayerPro Member
    OP
    Attorney · New York City / Long Island, NY · Member since 2020 · 597 posts · 248 votes
    3y

    Looking for the right property can feel like looking for a needle in a haystack.  But I suppose if it were too easy, everyone would do it.  If we keep going, sooner or later the property we are looking for will come up in our search.  I'm wondering what type of property will be the best investment in the coming years & what are the markets that will have the best appreciation (that are possibly undervalued now).

    What's the Salt Lake City Market like?  

  • Real Estate Agent · Seattle, WA · Member since 2017 · 150 posts · 80 votes
    3y

    My biggest barrier for my next property is Cash to purchase and Finding a property discounted enough where the numbers make sense.

  • Member since 2023 · 12 posts · 2 votes
    3y

    i just started getting into real estate, biggest barrier for me is fully understanding my niche (small multi-family) and saving enough money to put for a down payment i also want to house hack any advice is greatly appreciated  

  • Investor · Phoenix Area · Member since 2021 · 20 posts · 6 votes
    3y

    I'd say capital right now. 

    I have 3 SFH investment properties that I self manage and am in the process of buying another home to live in for a year before renting it out. I've tapped into the immense equity that my investments have made in the last 2 years to; pay down bad debt, buy some "luxuries" (paid for a vacation to Florida to see our son graduate Navy C-school, etc.) reinvest for diversification purposes and put $ down on our new house. Now it's time for some creative means of acquiring capitol. This is one challenge of real estate investing and for now, I'll keep educating myself and analyzing deals!

  • Suzanne PlayerPro Member
    OP
    Attorney · New York City / Long Island, NY · Member since 2020 · 597 posts · 248 votes
    3y

    If you missed this event, you can find the next one, and others scheduled, on Bigger Pockets in the Long Island Events & Meetups section in the Classifieds left sub menu in Forums

    Our next meetup is posted at:

    https://www.biggerpockets.com/...

    To get notified automatically when an event is scheduled, you can join our group as well

    https://www.meetup.com/real-es...

    If you live and/or invest in the Long Island/ New York City area, please let me know & send me a Bigger Pockets connection request

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