Embracing an expensive market

[Gina Tavizon]

I've been trying to figure out how to become a legit investor again in my own market outside of the most common ways (big banks, traditional loans, etc.) and have been reading and listening (for quite some time now) to the many other ways to enter the market. I invested a little before and it was all traditional and very tough because there was no Bigger Pockets and I was on my own trying to figure it out. Figure it out I did, but at the worst possible time. Just as I was gaining traction, the market started crashing and I lost everything within a short period of time. I mean everything. Not enough time, not enough resources, not enough savings, you name it. It was me running everything (buying, rehabbing, budgeting, hiring, etc.) with one assistant and none of the online resources we have here. Toughest experience ever but best lesson ever.

I've been on Bigger Pockets for awhile and have been unbelievably afraid to jump in again. I'm in a pretty good position now, have reestablished myself, great credit, you name it--but moving past the fear of losing it all again has been paralyzing at times. I've worked so hard to get back up so I'm trying to be smart about my moves but I've listened to enough podcasts and read enough to admit that I definitely succumb to the affliction of "analysis paralysis" at times.

After finally using the calculators here, I literally wanted to cry because of how the BP calculators can help you avoid a whole lot of grief just by knowing if a deal is worth pursuing at all. So many details I overlooked when I bought properties before. I was younger, eager, and bent on winning. But it sure did cost me. These calculators alone would have changed my entire trajectory.

My market is Southern California, one of the most expensive, as many know. But it's my market and it's where I live and it will always be my main home. So expensive or not, this is what I got. And I know people are winning here in spite of the cost of real estate. So I finally said, "Why not me?" I had considered going out of market but it's too challenging at this point. Maybe later when I've acquired some properties and get better at this. And I was reminded that we can all win wherever we're at. I'm nervous as hell but I'm finally taking the baby steps. I'm learning more about my own market again, current landscape, all the nuances, and there is so much here. And sure the properties are higher than many markets but I'm learning more and more all the time on BP of all the ways I can get into them whether it be seller-financing, partnerships, syndication, or something else. I don't feel so limited anymore. And I am so grateful that I am no so alone anymore. I feel like I have thousands of friends here I can go to anytime. And one of the things that helped my mindset was a great tiny little book called "Acres of Diamonds". We can all find acres of diamonds in our own backyard. So, onward I go.

And I am MORE than open to any feedback and advice about any of this. Thank you in advance.