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Updated about 6 years ago,
A different kind of fear to start?
Hi Everyone!
New "investor" trying to get my first property to BRRR. I've been listening to the podcasts, read Brandon's and David's book, trying to invest out of state, and I'm stuck in a place where I havent heard too much about.
Maybe it's part of analysis paralysis, trying to find that unicorn deal, fomo, I'm not sure what category it calls under, but here it is.
I'm researching these markets, and start thinking about the following:
1) why is property still on trulia? It looks decent enough and would make good cash flow. Great neighborhood, good comps in the area. What gives?
2) why are there so many houses here for sale? Or so little? Is these even a lot? Does that mean it's a market I should or shouldn't even bother?
3) this property looks great to guy, the numbers make sense, but is someone going to rent it? Why is this other house here, with a very competitive, if not cheap, price, still not able to find a tenant after 4 months?
I want pull the trigger on properties I've seen but have real concerns with these questions, and honestly no one better to ask than you guys. Is this analysis paralysis? I mean, I am FINDING these, I am calculating BRRR, I have established a relationship with these two realtors in two separate states, but then I start to over analyze, what I believe are more important concern than putting the numbers in the calculator.
Maybe I just get the data and market from the realtor but still when you see that listing, or try to find a market and it takes a week and you move on, it's hard to know what's right and wrong.
Thanks for reading, I'm hoping to get some insight from people who have been in my shoes before (which I'm certain is all of you haha). Thanks again.