After a year of analysis paralysis

[Jose Gallegos]

I'm just getting started in my REI journey after nearly a year of analysis paralysis. I'm an engineer by degree but always wanted to get into REI and get out of the rat race. My hometown of Aurora, IL is where I have started my first deal. Currently in the closing process for my first 3 unit in late 2020. My goal is to get to 100 doors in 8 years. I'm starting small to refine my process for the first few years and kick into high gear in the later years by doing larger CRE deals. Will probably make mistakes along the way but that's what the first years a for. I hear it all that time that RE is a relationship business and as I mildly introverted engineer this could be challenging but very much doable. I want to gain valuable inside from others that have been in this game for sometime or meet other investors, new or season, that want to collaborate to help each other achieve our goals. Send me a message.

[Joe Villeneuve]

There are so many things wrong with your statement that I'm having a hard time figuring out where to begin, so I'll just go in the order of items in your statement:

1 - "My goal is to get to 100 doors in 8 years."  - Your goal should NEVER be the number of doors within any time period. Your goal should always be financial. Also, the number should ALWAYS be a number with a dollar sign in front, and NEVER with a percentage sign behind. Percentages lie...especially in REI.

2 -"Will probably make mistakes along the way but that's what the first years a for." - No, the first few years are NOT for making mistakes.  If that was true, I want to meet the person that lost the most money in their first few years...that person must be an absolute genius.  Of course they probably ran out of money before they stopped losing money, so...
3 - "I hear it all that time that RE is a relationship business..." First, stop listening to those people. REI does involve relationship building, however, REI is , as every business is, a numbers business.
4 - "...and as I mildly introverted engineer this could be challenging but very much doable"....and as a numbers business, your background in engineering should help you greatly with the numbers.  The problem with being an engineer, is you have know when to stop trying to "make it better".  Engineers are great problem solvers.  This will be your greatest tool, and will put you head and shoulders above most REI because you will be able to think on the left side of the equal sign, instead of the right...like most REI do.  This will allow you to see the opportunities others don't, and to put deals together others can't, simply because you will have a greater understanding of math...and that means you will be able to develop strategies others won't.  This also means less competition for deals, and much greater returns (remember, based on dollars...not percentages).