All Forum Posts by: Julien Jeannot

@Ran Iarovich

Absolutely wise!

I aim to stay below market rents to fill units quickly and to encourage lease renewals. 

The impact to the P&L is higher revenue, reduced turnover expense therefore higher margins.

 @Andrew Westlund Not a fun place to be.

I think the answers depends on your long term goals with a eye to the next step. For example:

- Do you need capital for the next deal and can flow the negative cash flow?

- Can you can wait out the expected rate decrease next year and don't want to flow the rental?

@Aaron Bard

Welcome! 

I'd start reaching out to the owners on a regular basis to pick up a property off market in your target aread.

@Aldo Fazio

Welcome!

I find amongst my clients that analysis paralysis is a common challenge that real estate investors, like any other type of investors, can face. It refers to a situation where an individual becomes overwhelmed by the abundance of information and options available, leading to an inability to make decisions or take action. Here are the top five reasons I’ve come across:

1. Information Overload: The real estate market is complex and constantly changing. Investors have access to a vast amount of information, including property values, market trends, financing options, Gurus, and more. Trying to process all this data can lead to paralysis as investors struggle to filter out what's relevant and make informed decisions.
2. Fear of Making Mistakes: Real estate investments often involve significant sums of money. The fear of making a wrong decision, buying a property with hidden issues, or missing out on a better opportunity can lead investors to second-guess themselves and delay making a decision.
3. Lack of Confidence: New or inexperienced investors may lack the confidence to assess properties accurately and evaluate potential risks. This lack of confidence can lead to overthinking and constant research without taking the plunge.
4. Perfectionism: Some investors set unrealistically high standards for their investments, aiming to find the "perfect" property or deal. This pursuit of perfection can lead to analysis paralysis, as it becomes challenging to find a property that meets all criteria.
5. Decision Fatigue: Analyzing properties, financing options, and market trends requires mental effort. Over time, this continuous decision-making process can lead to decision fatigue, where the ability to make sound judgments becomes compromised. As a result, investors might find themselves stuck in a cycle of over-analysis.

To overcome analysis paralysis, I advise real estate investors to take several steps:

• Set Clear Criteria: Define specific investment criteria and goals. This narrows down the options and helps investors focus on properties that align with their objectives. Keep it short and simple! You are not running a fund or a syndication.
• Create a Timeline: Establish a timeline for decision-making. Having a structured approach can prevent investors from endlessly researching and encourage them to take action within a reasonable timeframe.
• Seek Expert Advice: Consulting with experienced real estate professionals, such as agents, brokers, or mentors, can provide valuable insights and help investors feel more confident in their decisions. Find a trusted thought partner, forums can be helpful, but often lead back to issue #1.
• Start Small: If a large investment seems overwhelming, consider starting with a smaller property or investment. Gaining experience and confidence on a smaller scale can reduce the fear of making mistakes.
• Limit Research Time: Allocate a specific amount of time for research and analysis. This prevents information overload and forces investors to focus on the most critical aspects. Think the 80/20 rule.
• Practice Decision-Making: Making decisions is a skill that can be practiced and refined. Start with smaller decisions and work up to larger ones to build confidence in your judgment.

Remember that while thorough research is important, there comes a point where taking action is crucial for progress. Balancing analysis with action is key to successful real estate investing.

@Mack Swenson

Welcome and congrats! I did the same this year, left the W2 and no way I'm going back.

Well done @Justin Elliott

Nothing like first hand experience as a landlord to keep life interesting. It does make for great stories later.

@Sandy Tiemann

I wish I had one for you, but I would offer to try out ChatGPT.

@Gabe Kimuri Welcome!

Sounds like you are taking the same path I did. I housed hacked a duplex while tied to a W2 and the rest is history. 

Best wishes in your future endeavors.

@Zachary Gooden Welcome!

The answer is always: it depends. Not I helpful, I know.

Start with the goal in mind and work your way backward.

Personally, I don't sweat the interest rates. I can always refinance when the rates come down and I'm in the camp that they will.

@Saurabha Jirgi

Check out the follow websites for a good starting point:

-rabbu.com

-airdna