Fear- overthinking- rookie mistake

[Juan Alvarez]

I was scheduled to go see a duplex on Saturday. I’ve been pondering about scheduling a showing bc there was no w/d connection, and no appliances. I was pondering this for 2 weeks!! And when I finally decide to schedule a showing, the duplex went under contract the night before the showing. I was starting to get excited but I know I made a rookie mistake by waiting too long, I know this is a fast market but now I feel like I missed out on a good opportunity. Did any other rookies go through this? How do you get over that hump? I feel like I was finding every excuse not to schedule a showing bc of fear. It really ruined my weekend. Can’t stop thinking about it .

[Daniel Haberkost]

Originally posted by @Juan Alvarez:

I was scheduled to go see a duplex on Saturday. I’ve been pondering about scheduling a showing bc there was no w/d connection, and no appliances. I was pondering this for 2 weeks!! And when I finally decide to schedule a showing, the duplex went under contract the night before the showing. I was starting to get excited but I know I made a rookie mistake by waiting too long, I know this is a fast market but now I feel like I missed out on a good opportunity. Did any other rookies go through this? How do you get over that hump? I feel like I was finding every excuse not to schedule a showing bc of fear. It really ruined my weekend. Can’t stop thinking about it .

 Do you have a clear plan for your first investment? Are you just looking at whatever comes on the market in your area or have you nailed down your criteria? 

I ask because it's much easier to take action if you know exactly what you're looking for. For example, if you're looking for a duplex to house hack in a specific area then you can remove a lot of the uncertainty by seeing what comparable properties are renting for, how many days listings sit before getting leased up, etc. and run your numbers appropriately. Doing your due diligence helps to alleviate some of the fear. 

I've seen a lot of new investors that are somewhat aimlessly looking at properties of different kinds in a wide geographical area which makes it harder to take action. Focus is important.