Our Culture Of Seeking The Best

[Russell Brazil]

I do not know what else to call this problem....if anyone has a suggestion please chime in with it.  I have been a victim of this in the past, and I see new investors get caught up in this a lot with analysis paralysis. 

We have this culture that is developing where we all want the top rated product.  We want to send our kids to the top rated high school.  We only want to eat at restaurants with 5 stars on yelp. We want to stay at the top rated hotels.  We want to have the lowest mortgage rate. We only want to use contractors rated A+ on Angies List. We want the best house in a neighborhood......and we want every investment property we buy to be a home run.

I am sure we have all run into this problem, and I run into it quite a bit as an agent too.  I was working with a client who recently was upset that on her refinance she ended up with a 4.2% versus a 4%. She felt if the mortgage company had acted quicker she would have gotten a better rate. (This was prior to the last few weeks when rates dove). Her mortgage was so small though that I pointed out the difference in her rate would have only made an $11 a month difference in her payment.

I see newbie investors get tied up on analysis paralysis...they pass on a solid investment that will have a 10% cash on cash return, because something new came on the market that will be 11%. Meanwhile the difference will be so minute it will not make a difference in the long run.  I know Ive let myself get caught up in this too in the past. Not every deal we do needs to be the best.  You dont need to hit a home run every time up to bat.  Hitting consistent singles and doubles is going to win you the game.

[Bill Gulley]

Good point!

Many have died seeking the mother-load and never picked up the nuggets they stepped over!   

Perfection is a goal, but it's not reality. :)