Indecisiveness is killing me

4 Replies

I am very motivated to start my dream of becoming a real estate investor and I would like to use the BRRRR method. My thing is that I believe I have almost done too much research and listened to too many opinions on how to start that I've got myself stuck.

A little background, I have already purchased my first home last year using the VA loan through Navy Federal Credit Union so the process of buying a home is still fresh in my mind. I'm service connected disabled, so I have a little passive income flowing into this home. I roughly have about 20k in my Roth IRA 401k. I live in the Indianapolis area.

I am having a difficult time selecting what type of loan I should use and really just how to get my wheels turning. I know that once I get through and find a great strategy to use that I will take off quickly from there. Any tips or suggestions would be greatly appreciated!!

Do your due diligence, especially in Indianapolis. Get your funding figured out. Not that hard. Find out all the possibilities and make a list. I'm sure you've done that. 

Dont let excitement for the game replace logical thinking. Dont buy until you have sound data for costs, rehab, etc. Know before you buy. Especially with a rehab in Indianapolis. Or a BRRRR in Indy.

Have a team in place from the property vetting process to the refi process. Do this from the start.  

If you have questions and need perspective, reach out to people on Biggerpockets. They are a great community. Just dont listen to anyone trying to sell you something.  Keep your feet on the ground and your eyes looking forward!! 

Best wishes!!

@Michael Nichols Forget taking any money from you Roth IRA. That's a terrible way to get into real estate investing. What are the plans with current house? How much equity do you have? Can you leverage anything else to create future funding? Indy is a great market. I'm invested on the east side.

I've been through this. Honestly, I go through it every time. I guess I'm still pretty new to this, since I'm only searching for my 4th (or 7th, depending how you count) property, but analysis paralysis is a real thing. 

If you're anything like me, your math is sound. You probably know which choice is right on paper. But you also have the ability to make both (or more) choices look like the best one, and that's what's killing you right now. There's probably not a huge amount of dollars difference between them. So take the choices that have good numbers, and go with your gut. The numbers don't lie, so don't let perfect get in the way of good enough.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

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.

We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here