New Investor, Overwhelmed By Everything Going On, Need Some Help

[Naga Avinash Raya]

Hi, I am 23 years old and live in NJ. I have been reading, listening to podcasts, etc. For almost a year now and part of me is like I need to learn more and the other part of me is like do not get stuck in Analysis paralysis.

I am in a dilemma about whether I should buy a rental or BRRR. I have enough money for a downpayment and closing costs I also do not know whether to invest in NJ or out of state. If I do invest in NJ I can FHA and househack, if I dont then I can either buy a turn key property out of state or BRRR. Another thing that is bothering me is the decision of whether I should invest now or wait a little bit because of the current condition of the market. There are so many things I have to figure out and I need some guidance. Any help is appreciated. Thank you!

[Ali Boone]

Okay, you're pondering a big spectrum of options. I think you need to slow down and go through each of those options one-by-one and start narrowing it down. If you keep contemplating all those options at the same time, you're not going to hone in on something as easily. Here are some articles to help with:

Turnkey vs. BRRRR https://www.biggerpockets.com/...

Local vs. non-local https://www.biggerpockets.com/...

Househacking https://www.biggerpockets.com/...

Start with the knowledge. Then let the knowledge guide you along.