50: Rookie Reply: I Have Analysis Paralysis, What Should I Do?

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 6 February 2021

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Welcome to the first Rookie Reply episode of the Rookie podcast! We’ll be taking questions from Facebook, Instagram, the BiggerPockets forums, and maybe even the Rookie Request Line (Call us at 1-888-5-ROOKIE). This week’s question comes from Trevor on the Real Estate Rookie Facebook Group. Trevor is asking: What was the hardest part of getting started? What helped you overcome that obstacle, and how do you mitigate analysis paralysis? This is a question we often get, so it’s perfect for the first Rookie Reply show. Here are some suggestions: See the first deal as a learning opportunity Don’t let it become emotional Verify your data and numbers Have another exit strategy Get an accountability partner And more in the episode... If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! In This Episode We Cover How to overcome analysis paralysis Why you should know your “worst case scenario” and adjust accordingly to it Having other exit strategies for your property Having reserves (or a partner with reserves) Taking the emotion out of the deal And More! Links from the Show BP Insights Rookie Podcast 12: What Works (and Doesn’t) in a Recession & the Untold Story of J Scott’s Messy First Flip Check the full show notes here: https://www.biggerpockets.com/rookie50 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie Show number 50.
0:08.4	I am Ashley Care and I am here with Tony Robinson.
0:12.3	Today we have a special Saturday episode just for you guys and we're going to be answering
0:18.5	a question from the Facebook group. Are you excited Tony?
0:22.6	I'm super excited to give the listeners kind of a second dose of us during the week
0:27.1	and really spend some time kind of diving into some of those questions
0:29.8	that we know that they're one of your answers to you.
0:31.8	Yes, so what we're going to be doing going forward is we'll be having this Saturday episode.
0:36.3	We'll be pulling questions from Facebook, from Instagram, from the bigger pockets forums
0:41.3	and coming up with some of our own questions. So if you guys want to get involved, join the Real Estate
0:46.8	Rookie Facebook group. Just search Real Estate Rookie and ask to join. Make sure that you
0:52.6	answer all the questions and agree to the term so that you can be submitted into the group.
0:58.2	Beautiful. I know we're all excited to get started but let's take a quick break before
1:01.6	we dive into today's episode. Oh no, are you still looking for on market real estate deals?
1:08.3	Come on guys, we taught you better than that. Stop scrolling through those listing sites.
1:13.1	The best rental properties, flips and wholesale deals aren't found on market. So how do you get them?
1:19.5	Deal Machine. From driving for dollars to pulling owners list, marketing direct mail and more,
1:25.2	Deal Machine gives you everything you need to easily find your next profitable property.
1:30.5	If you haven't heard, Deal Machine is the all-in-one real estate tool and they even have a new AI
1:36.9	assistant, Alma, who can instantly analyze properties, get answers to any real estate question,
1:43.4	and connect with property owners faster. Plus, their weekly live webinars bring in industry
1:49.6	experts to help Rookie's land their first or their next deal. Deal Machine is the highest rated
	...

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