Too Many Options! Analysis Paralysis!

[Andrew Coffey]

I have decided to take the deep dive into real estate investing. I've been doing an insane amount of research and I think I'm (Lets be real, I KNOW) getting stuck with analysis paralysis and I haven't even looked at a house yet.

My first hurdle is on the topic of funding. I don't have the funds to purchase a house outright and I don't have the 8-10,000 needed for the 20% down on a 40-50k house. (Roughly the ballpark I'm looking at)

I have options, I have a LOC and I could potentially get a HELOC/HEL.

I could get P2P lending for the downpayment and then take that money to a conventional lender.

My house is in my name, but my wife could get a FHA loan and shoot for a Du/Tri/4-plex (This would go above the 50k soft limit of course but I am concerned about the down payment rather than getting the loan itself.)

I could get a hard money loan for a few points, use credit to fix and flip, or get the hard money loan and hope to find a conventional lender after the place is fixed up with tenant in place.

Along the FHA route I could do a 203k to fix a place up (Especially the before mentioned 4-plex)

I could try to find someone who is willing to do seller/owner financing and cut the bank out entirely if possible.

On the other hand, I could do a few wholesales to build up some capital...

The problem is, I get nervous and can't talk confidently even about things I am deeply passionate about. I could talk to my wife or friends all day about investments or budgets but as soon as I'm talking to strangers I get mushmouth.

I have a decent chunk of info and understanding about the topic but I just can't seem to pull the trigger. I'm not concerned about an 'easy' way rather I am afraid of messing up and it knocking down my house of cards. I'm not so poor off that I cannot sustain a small hit but I am afraid of somehow getting a house I cannot sell or rent out and losing money month after month until having to default.

What should I do? What does the Bigger Pockets community consider to be the least risky (even if it means the least returns) way of investing? If anything, to build up the capital to purchase a house from a better standpoint.

I guess wholesaling would be the best start, but how do I find the investors when the home owner couldn't?

[Blair Poelman]

yep, you've given yourself too many options.  You may benefit from setting some goals and clearly and finitely defining exactly what you want to accomplish.  There are several goal setting programs out there - a quick google search should get the wheels turning. 

Wholesaling is hard, like really, really hard to do.  Not impossible, but freaking hard. Good wholesalers are hard to come by, and bad wholesalers will usually only end up doing 1 or 2 deals before their reputation gets demolished.