Beware of “Analysis Paralysis!”

The mere sound of paralysis sounds so ominous that we would naturally avoid such a thing – right? Well, yes, but one of the first mistakes we learn in “real estate investing for beginners” is to avoid over-analyzing investment properties.

You heard the old adage about the guy who had to feel for the floor before getting out of bed? lol. Well, there are some distinct disadvantages to waiting before striking, weighing every possible scenario and crunching the numbers endlessly. To begin with: “The early bird gets the worm.” If we delay our decision to buy we may lose the real estate investment altogether.

Secondly, every real estate investment expert knows that you never exactly know what your margin will be until you have sold the property. That’s just the nature of this business…especially when there is rehab involved. One of the great advantages of real estate investment mentoring is learning to identify issues and attach an approximate cost to each before you write your offer. Nevertheless, since the principle is to “buy low & sell high,” just make sure that you buy low enough so the margin will cover you from any minor errors in judgement.

Also, don’t ever feel that you must narrow your searches down to the very one you want. There is absolutely no harm in writing multiple offers when you are seeking just one investment property. Remember that there are always contingencies for on-site inspections and a list of other “escape routes.” Just write offers. You’ve nothing to lose but a little time.

Finally, identify your fears. In fact, it is fear that holds us back from moving ahead with what we desire. Find a way to get over your fears and your real estate home business will take a large step forward. Once you have pulled down your first deal you will feel completely different about making decisions that will catapult your real estate investing to another level.

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