What is the #1 Barrier to Buying Your First/Next Property?

Question

"I've always believed that training with great players makes you a better player."

- Javier Mascherano, Argentine professional football/soccer coach

“The journey of a thousand miles begins with one step.” - Chinese philosopher Lao Tzu

January is a month when a lot of people - especially investors - are setting goals and planning their year. Many are looking to buy again in 2023.

What is the #1 Barrier to Buying Your First/Next Property? What are the next practical steps?

Need for (More) Cash?

Not sure if You Have Enough Knowledge/Experience in Investing?

Not sure if you should invest within driving distance or go out of the area?

Worried about the safety of Out of State Investing?

Not sure where the economy is going & whether to move or wait?

Networking – you don’t know enough people who can help you

Properties – you know what you’re looking for, but can’t find it

Property type – you haven’t decided whether to buy residential (single family, 1-4 unit multi-family) or commercial (apartments, mobile home park, mixed use, or commercial buildings)

Strategy – you don’t know whether to be a landlord, a flipper, or a wholesaler

Bring your investing questions, none are too basic, we've probably heard the question before.

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Dennis Nguyen · Answer

My biggest barrier for my next property is Cash to purchase and Finding a property discounted enough where the numbers make sense.

Suzanne Player · Answer

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James Leach · Answer

I'd say capital right now.

I have 3 SFH investment properties that I self manage and am in the process of buying another home to live in for a year before renting it out. I've tapped into the immense equity that my investments have made in the last 2 years to; pay down bad debt, buy some "luxuries" (paid for a vacation to Florida to see our son graduate Navy C-school, etc.) reinvest for diversification purposes and put $ down on our new house. Now it's time for some creative means of acquiring capitol. This is one challenge of real estate investing and for now, I'll keep educating myself and analyzing deals!

Nick Libert · Answer

i just started getting into real estate, biggest barrier for me is fully understanding my niche (small multi-family) and saving enough money to put for a down payment i also want to house hack any advice is greatly appreciated

Suzanne Player · Answer

Looking for the right property can feel like looking for a needle in a haystack.  But I suppose if it were too easy, everyone would do it.  If we keep going, sooner or later the property we are looking for will come up in our search.  I'm wondering what type of property will be the best investment in the coming years & what are the markets that will have the best appreciation (that are possibly undervalued now).

What's the Salt Lake City Market like?

Will Fraser · Answer

For me it's making sense of the numbers.  This would be far from the first property for me, but somehow I'm still coming up blank when running numbers at the current asking prices paired with the current cost of debt.

I suppose the good news is that offers are (relatively) free and the stability of real estate as an asset makes it a great place to park cash, so it's really a lead-flow issue.

How about you @Suzanne Player?

What is the #1 Barrier to Buying Your First/Next Property?

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