Breaking out of Analysis Paralysis

[Annalisa Brown]

Quick update: Bought a house in Port Angeles, WA in January of 2020 to BRRRR. Still working on it. Been waiting on plumbers and electricians for 9 months. Learning a lot about finding and managing contractors. Doing all the other work on our own (drywall, flooring, siding, landscape, cabinets, finish work, etc.) Been working as Construction Crew Lead for Habitat for Humanity of Clallam County through Americorps, the position comes to an end in September and I have been offered the position part time, 2 days a week to continue to help with the builds. Could turn into full time at 4 days a week if they need it and if I want to do it.

  I don't know if I want to continue with them quite yet. Of course I will continue to volunteer but as far as employment, I feel ready to just dive into real estate entrepreneurship. I feel comfortable with this because I know I can always fall back on serving if I need to (there are a few restaurants around here that are always hiring, and that's the work I've done for years that allowed me to save up for this house).

This is an intentionally vague, opaque post. I am calling myself out for not having my vision clear and my goals outlined. I visited the 'goals' page in my Pro account to set a 90 day goal, and I could not think of one. This was my wake-up call. I have not been focused. We are on forbearance for our home until the end of my Americorps position (I applied to the 10 month Americorps program when the restaurant I was working for shut down for COVID, I earn a small stipend now....) so I don't know if 'buying our second property' should be my goal.

Here is what I know: I want to focus on value-add buy-and-hold investments for the primary focus of providing affordable housing. 

                                I am not interested in vacation rentals, the money does not entice me. It feels socially irresponsible.

                                I DO want financial freedom. I also want to help others achieve financial freedom.                      

Current habits: Reading daily. Listening to podcasts. Analyzing deals. Driving around, looking up properties in county websites. Scanning MLS.

Action plan:          Post an update in BP forums (this is it).

                            Take a proficiency course for Quickbooks.  

                           Rough-draft a Vivid Vision. I don't feel ready, but I need to stop this self-limiting pattern.

                           Attend my first meet-up. 

Finish this house and cash-out refi or HELOC! Make a plan for the capital. (we do have a detailed and specific punch-list)

I have been thinking that it would be wonderful to find an investor to work for, but everything I imagine doing for an investor I can just do for myself and actually get a deal and move forward. This may be backwards thinking. I need to put myself out there and get networking, fast track my growth!

Thanks everyone if you read this at all. I just need something to look back on in 3 months to wince at.