All Forum Posts by: Dave Raney

@Ian Kurela

I believe the "fear" I am referring to is moreso the fear of what I do not know.  It is the fear of making a mistake, when I should be focused on closing on the property and if I fail, fail fast, learn, and move to the next opportunity.  It is easy to say and it is how I perform in my daily job.  I do not know why it is more difficult to apply to something I am doing for me and my family.

@Jacob A.

Thank you for the reply.  I will act with more haste if the property meets my criteria.  Hope to reply back soon with a better story.  I need to get rid of the fear that the offer will get accepted.

Hello fellow BP members! I have been bitten by a case of analysis paralysis. I have identified what I believed to be a few good deals only to drag my feet and lose out on the ability to submit an offer due to the properties selling. I often seem trapped in which direction I would like to go in. One minute it is SFR rentals, the next I am looking at small apartment buildings, and now I seem drawn to multi-unit commercial buildings. I have recently received my real estate license so that I can have access to the MLS and go look at intriguing properties whenever I choose to, but by the time I decide to make an offer, it is too late.

Now that I have attempted to paint the picture of my current state, I was wondering how other people that were in my position were able to get past it.  I have always been drawn to real estate, but continue to struggle to find the "perfect deal" which I believe is the source of my sloth-like progress.   Ultimately, I plan to have passive income long term and move on from my W2 job to be in real estate full time (I am intrigued to represent commercial and investor clients in the future as well).

Any insight would be greatly appreciated.

Thank you @James Wise

@Celena Lathrop thank you for the insight. I am looking into multiple ways daily to get my hands on distressed properties. I plan to do my first drive for dollars adventure this weekend. I have been perusing pre-foreclosures and beneficiary transfers in my area. I have filed for my LLC name change to assist in a softer direct mailing message as well. I plan to get my real estate license in the next few months for personal investing purposes.

Thank you.

Thank you @Gwen Fyfe and @Federico Gutierrez.  I understand the criteria probably will not work in this market.  I use it to see just how far off the deal is.

@Celena Lathrop I have considered using direct mail.  I am reading up on some of the tried and true methods.  Is "driving for dollars" the most tried and true way, or do distressed property lists exist?

@Celena Lathrop thank you for your insight. I have been manipulating the data based on down payment. I have been looking strictly on MLS. I cant even get to an offer phase on most properties I am interested in. They are in multiple offer status within 1 to 2 days.

I am glad it is not just me.  Starting out in this market seems a bit tricky.