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Updated about 6 years ago,
Total Information Overload
Newbie with no prior real estate investing experience other than buying my own homes over the years. I have been scouring this site for the past couple weeks since joining. I've ordered some real estate investing books. I've followed links to other investors that Brandon and Josh have had on their podcasts. I've read several of other investors' information, newsletters, freebies, etc. I believe in educating myself before I throw multiple thousands of dollars at something, be it my money or anyone else's.
I'm looking at BRRRR and/or rehab and flip. Just the information on rehabbing is mind-boggling. Hell, just what to look for in a general contractor, putting together a contract for said general contractor, permits, insurance, on and on and on. I feel I'm getting analysis paralysis and I haven't even looked at a property yet to analyze a deal to see if it is even worth it yet.
Just do it isn't me. I'm an accountant by profession. I'm analytical by nature. And, I have a risk averse wife that doesn't want to put money anywhere but under our mattress. I am so excited about doing this REI thing. I also know how much I have to manage her stress, which may be a tall order. I need so much to get this right coming out of the gate, ease her mind and get her buy-in on this venture.
Is it really best to just take the plunge and dive right in? How best do you recommend a guy start out but minimize risk to avoid devastatingly costly mistakes? I don't mind paying for education, but I don't want to be sunk before I even get started, and I'm having a really hard time getting off the couch so to speak.