How to avoid analysis paralysis... Just do it!

Don’t tell me you’re still stuck dreaming of your financial freedom and talking about the investment deals you could have made?!?!

We all face it at some point in our investing career… Paralysis by Analysis.

By definition, it is the act of doing so much research into an idea that you unintentionally gain no movement in your business venture and could actually in the end get scared away from it all together.

There are many people today who are excited about their financial future. However, there are also many people who are struggling with high levels of debt. It is difficult to succeed if you are struggling with your finances. For the average person, digging themselves out of a financial hole can be quite the struggle, because their income is low. Getting over analysis paralysis is essential to financial success.

In order to build wealth, you have to start looking for ways to generate income in a variety of areas. There are a lot of people who are excited about the possibilities in real estate investing. Although it is intimidating to some people, it is a great industry to change your financial life in.

My Experience

When my business partner and I started out we were still in school. We tried a couple of business ideas before, but nothing panned out to what we liked. We wanted to use real estate as a launch pad for other business ventures we may have in the future.

We chose real estate because we had the means to enter the market through our network. We knew friends that were investing in real estate and had access to capital from investors to start out with.

With money on the line, we went into a deep coma of research and analysis. We spent hours and months of looking at properties online and talking to peers about our business. We made countless calculations and thousands of tasks but never purchased a single property for 9 months. This was a lot of time wasted in the process.

We were close to walking away from our dreams of investing in real estate when went to a seminar for first-time homebuyers. It was here we met our first realtor Mark Sullivan.

Mark got us on the MLS and started taking us out to look at properties, even without financing. We didn’t even have financing yet but it didn’t matter. Regardless, we were out there looking at potential properties, and after finding properties we liked, we would reconvene, and discuss our find financing options after the initial property visit.

This may not seem like a huge deal, but it made a world of difference for us. The simple act of getting out into the field, looking at physical properties, and talking to other players in the industry helped us take that next step forward.

Mark really helped us “Just Do It.”

In a lot of ways this Nike slogan has as much to do with business as it does with sports. While the term “Just Do It” was coined by Dan Wieden in 1988 to inspire Nike’s customers to get out there a be active, it also was a source of inspiration that Nike used to over take archrival Reebok in the athletic shoe market. This advertisement worked so well it raised Nike owning 43% of the athletic shoe market at the time. So take a page out of Nike’s book and “Just Do It.”

Here are some of the top take-aways we discovered from our first real estate investing experience:

Start Small

One of the most important pieces of advice for investing in real estate is to start small. There are a lot of people who just jump right into investing in order to have success. This is a bad idea if you do not have a lot of experience.

Real estate investing requires a lot of capital to get started. Making a mistake in the early part of your investing career can be hard to recover from. Before you go out and buy five houses at one time, start with one property that is low-risk. Over time, you can learn the different aspects of real estate investing from the experience you gain from your first investment.

The infantile stages of your real estate investing career are critical. A lot of people read about real estate investing online. While this can be informative and helpful, it will never be the same as actually going out and doing it yourself. Finding what works for you in this area is essential to succeed over time.

Finding a Property

In order to have success investing in real estate, you have to be able to find a property that is going to produce cash flow over time. To overcome paralysis by analysis and invest in real estate, you need to go out and look at a lot of properties. The more properties you look at, the more chances that you will have to take your financial life to a new level through investing in this area.

All good real estate properties have similar traits. Over the next few years, the amount of quality investment homes on the market is going to continue to decline. As time goes on, and the shortage of inventory looms in the near future, the currently competitive real estate market will only get worse

In order to find the right property, you may have to get aggressive and contact people before they actually list their home. Not only is this a great way to save on closing costs, but you can also find better deals this way. To overcome paralysis by analysis to invest in real estate, you have to start taking action in the direction of your goals and dreams in investing.

Financing

Few people have the cash on hand to invest in real estate at a high level. It’s very important to figure out a financing plan that makes the most sense for you. With the right financing plan, you can achieve financial freedom through real estate investing. There are many people who are excited about this process, and it is possible, if you start with the right foundational financing plan.

In most cases, going to a typical bank is the best option. Much like with many loans, the better your current financial situation, the better your loan options are going to be. Bad credit plays a major factor in the amount of difficulty many people have in being approved for a real estate loan on an investment property.

If you have had financial issues in the past, you may have to get more creative with your financing plans. The good news is that there are a lot of online options that you can go to in order to find financing. There are a lot of people who are using these services to get cash fast. However, the interest rates on these loans are usually higher than a typical bank. Something to think about, before taking the plunge and pursuing non-traditional financing!

Financial Planning

In order to have success with financial planning in your life, you either need to decrease your expenses or increase your income. Few people have the ability to increase their income greatly through their current job. There are only so many hours a day that you can work, and it is vital to find something that you are passionate about.

Real estate investing allows you to take your life to a new level in a variety of ways. With all of the changes that are going on in the market today, we believe that this is the best way that you can change your financial life in the future.

There are many people who have had success with investing in real estate in their area. The great thing about real estate is that there are many ways to have financial success over time. Many people today are living off of the cash flow that is generated from their rental properties. Others would rather buy and sell homes quickly to profit off of the equity appreciation that occurs in a short period of time. Now is the time to start taking your life to a new level in this area.

Future Plans

In order to get over your analysis paralysis, you have to start moving in the direction that you want to go. Real estate investing is a great way to get out of a current financial jam. However, you need to take your time and start small in the process.

If you are struggling financially, working a typical job is not going to help you break through. Financial freedom is possible through building a strong side income through real estate.