My 30 day challenge!!!

[Mark Torres]

Hello everyone my name is Mark Torres, I am new to real estate investing and have been reading the forums and listening to podcast but I know I learn more when I take action. I would like to challenge myself to a 30 day challenge where every day I would analyze a deal around my area. I just wanted some help as to how I should structure my challenge. Should I focus on one aspect of investing or analyze deals for different strategies. I just wanted some input or advise as to how to challenge myself correctly. Thank you and merry Christmas.

[John Leavelle]

Howdy @Mark Torres

As the others have stated you definitely need to figure out several things before jumping into analyzing anything.

What are your long term goals? What type of properties do you want to invest in? SFR, Small multi-family (2 - 4 units), small apartments (5 - 30 units), commercial retail properties, etc ...

What strategy do you want to use?

Flip?  Buy and Hold?

Once you decide you should concentrate on one strategy until you get it.  We can recommend analysis methods once you figure it out.

As a side note.  You will find there are a lot of opinions on BP regarding the "30 day Challenge " idea.  Positive and negative.  The biggest negative is people say you are wasting your time and are stuck in "Analysis Paralysis".  You would be better served actually looking at properties and submitting offers.  On the other side it is a good exercise to develop confidence in your analysis methods.  The catch is you must have a good understanding of the strategy/method you choose.  I actually agree with both points of veiw because it comes down to the individual doing it.  You also must take action after completing the challenge.  Start submitting offers on those properties that meet your criteria.

Just so you know I did the challenge and I now have 3 properties as a result of doing it.  None of them were properties from the challenge.  However, they came as a result of submitting offers to Sellers with other off market properties they wanted to get rid of.  Point is take action.

Hope this helps.  :)