How do you know when you know enough?
I've heard from one of the BiggerPocket's podcasts about how you can never know enough in real-estate investing, regardless of what point you're at in your REI journey. So I assume you just start out when you feel satisfied that you have enough knowledge and skills, but how do you figure this out?
Many people who've had analysis paralysis think they're not ready, yet most of the time they are.
Then you have people who're arrogant and start too early, which results in them losing money on a poor deal they've made. Although there are many factors, one of the main reasons they've failed was a lack of knowledge.
My plan so far is this...
Finish the Ultimate beginner guide to REI
Develop my business plan
Develop my power team
Start REI
Once I have my business plan and my power team, I'll feel like I have enough to start.
What point do people usually get snagged when it comes to analysis paralysis? I'm just developing myself before I start out, so I want to have an idea of what I might be facing in the future!