Admin

Do you know anyone that is in Paralysis Analysis Mode?

By
Real Estate Agent with Prudential Ambassador Real Estate

If you are an investor or thinking of becoming one in all likelihood you know friends, associates, etc. that have talked to you about Real Estate and all have their opinions about it  right? Did you get 10-15 opinions?

If any of you have gone to an investor meeting lately, how many different strategies did you hear? They will tell you that they have the "best" strategy for this or that. All are trying to help, but sometimes the opposite is true and they add to the confusion.

Here's my answer: Ultimately, regardless of the different opinions you are getting, who is putting up the money? The absolute best thing you can do is to take the first step and work with a Realtor that is a specialist in Investments and also has experience.

First and foremost stop analyzing before you have a property under contract.

Once you have an offer accepted you can take your time. Think about adding this kind of language. Subject to inspection by contractor to determine remodeling costs satisfactory to buyer within__ days upon acceptance of offer,then you can do your analysis.

This will be the biggest relief for you because you are actually accomplishing something. Every Investor or Realtor will have their own opinion (buy foreclosures...don't bother with foreclosures...buy to hold...buy and sell...buy a short sale...don't buy a short sale-takes too long to find out). No wonder there's confusion!

Everyone is trying to be helpful because they care about you. But are they really being helpful or adding to the paralysis?

Something else that adds to the confusion are seminars from these so called "gurus" that come to town for a day with their dog and pony show and make things appear to be way too easy. They make a lot of empty promises that are hard to deliver and these seminars end up being quite costly.

I know of a few individuals that have attended and spent thousands of dollars ($4000-22,000) this or that seminar and they are still in the analysis and reading mode and don't own even one investment property. They would have been better off to use the money as a down payment or for part of the fix up cost (actually they could have paid for the entire cost of the project)

Do you know of such an individual?

Bottom line: If you don't start making offers in the first 30-45 days you are passing up a great opportunity and in all likelihood you will never get around to doing it at all.

Your first deal makes the fear fade away and then you're ready for the next one. No amount of reading or attending this or that seminar will ever give you the confidence you want.

Buying and selling Real Estate is not rocket science. Perhaps you're not giving yourself enough credit and are trying to learn more than you really need to take the plunge.

How about focusing on what you need to do to put your first offer under contract:

1) Have some idea of what you want your real estate to do for you. (A business plan)

2) have you finances in place

3) Know what type of properties do you want to deal with A, B, or C. Do you want to wholesale, buy, fix and/or sell or rent? What else is it?

4) Find a qualified Realtor that can help you evaluate properties. Perhaps you've been trying to do this all alone - a Realtor you can trust and that's an investor, can be your biggest friend in the business and perhaps the missing link that has kept you in analysis paralysis.

5) Surround yourself with a team (Banker do you have your finances in order- Contractor, and Realtor) that will have
your best interest in mind. Knowledge is powerful for sure and you can always learn more so my guess if you are reading this you have enough information to take the next step.

6) Get an offer accepted instead of worrying about a lot of things .

In conclusion,concentrate on the 6 things and you will be much further ahead than before and well on your way towards Wealth Building. If it is to be it is up to you.

Here's your first step: if you are interested in becoming a landlord feel free to contact anyone of us on the Omaha Real Estate Investing Team for a confidential consultation: Prudential Ambassador Realtors Fred Tichauer, 402-679-3914 or Shawn Prouse at 402-955-9058 Kelly Kirk 402-680-4153 or Paul Sadofsky 402-6807268  and you will be happy that you did.

We consider ourselves to be one of the most experienced team in the Metro/Omaha area. With us you can count on: Excellence, Trust, Commitment, Honesty, Integrity, Leadership, Expertise, Practical Knowledge, Results and over 60 years experience as investors. Call us for a no obligation and confidential consultation. We are committed to helping you get started on the right track.

http://omaharealestateinvesting.com


It's our mission to help our clients generate wealth by Investing in Real Estate.

"Buy Today-Profit Tomorrow"