Analysis Paralysis 2021

[Bill Kenshur]

Hello BP Community. 

I am asking for advice on how to break through analysis paralysis. I am a CA resident looking to invest OOS in MFH in the 100k range. I understand the process of building a team and knowing your market before making an offer, especially if it is not your backyard. I have analyzed Atlanta (GA), Conyers (GA), Columbus (OH), Memphis (TN), Charlotte (NC), Ashebero (NC), St. Louis (MO) and Fort Wayne, (IN). In that analysis I looked at their population, population growth, crime rate, school ratings, job growth, average property age, top industries, average home sale price, average monthly rent rates, median household income, how many Fortune 1000 companies, average appreciation over the last year and 10 years, and cost of living index rating.

After reviewing the results, Atlanta and Fort Wayne stand out as contenders.

Atlanta pro: Great population growth, job growth, diverse industries, household incomes and monthly rental rates. 

Atlanta con: Neighborhoods in my price range have high crime rates, low school ratings, and properties are in need of more repair than I am comfortable with for a first investment property.

Fort Wayne pro: Crime rate is low and population count is near a favorable range and growing.

Fort Wayne con: Average rental rates are low, not much diversity found in major industry types, and properties in my price range are scarce.

I have heard many times that it is more important that you decide, rather than what you decide on. I want to make the best educated decision possible, but keep getting deterred by the cons I find for any given city. Am I overlooking any other promising markets for my criteria? Should someone in my position trust their analysis and just be patient while searching for the right deals in one of the two cities I have mentioned above? Any advice is welcome.

- Bill