How to overcome analysis paralysis in real estate investing

We’re in for some good times in property in 2021.

Yet, instead of entering the market with confidence, many would-be property investors are sitting on the sidelines – missing out on what could be a golden opportunity to take advantage of the current market.

Everyone is an expert

In times like these, every Tom, Dick, and Harry becomes a “property expert” and water cooler conversation is dominated by the baseless predictions of these self-appointed gurus. 

It’s no wonder potential investors are feeling spooked!

While everyone else is nervously holding themselves back thanks to the current market conditions, this could be your perfect opportunity to pounce.

If only you could overcome the procrastinating and actually make it happen…

Here are my top five tips to help you overcome this “analysis paralysis” and jump into your investment decisions without fear:

1. Be decisive

Agonising over simple decisions is a real first-world problem.

The luxury of seemingly endless choice has made making quick decisions almost impossible in modern life, and sometimes our tendency to over-analyse is to our detriment.

Of course, you want to source reliable data and think critically and clearly before you make investment decisions.

But never second-guess yourself – commit to your decisions and trust your instincts.

2. Set clear deadlines — and stick to them

Whether it’s for saving, securing a property, or renovating, set a goal and work backward, planning how you will achieve it in the required timeframe.

Sometimes doing this makes you realise your goals are more achievable than you thought, other times it could be the shock treatment you need to really pull your finger out and stop procrastinating.

Use visual cues, like flow charts, colour-coded calendars or even an inspiring mantra stuck on the fridge door, to remind yourself of these goals and build your motivation.

3. Don’t pursue perfection

Instead, accept that your first home or investment property may not be all you had dreamed, and that’s OK – as long as it has potential.

For now, your focus is getting your foot onto the ladder and growing your wealth, long-term.

Waiting for the perfect property to present itself could mean missing out on the benefits of investing right now, so opting for “near enough is good enough” could serve you well.

The same goes for setbacks you encounter along the way.

Treat them as a learning opportunity, not the final nail in the coffin.

4. Keep it simple

Don’t over-complicate the process by giving yourself too many options.

Instead, narrow your focus to include just a few choices, making it easier to weigh up the risks and benefits and make decisions.

When it comes to planning, break your bigger, long-term goals into smaller, manageable chunks with measurable outcomes to help you stay on track and foster a sense of achievement along the way.

5. Keep focused

Momentum isn’t just a concept in physics!

As soon as you drift off-topic and allow your mojo to slide, you’re at risk of entering a downward spiral to nowhere.

Build momentum by focusing on your step-by-step plans and celebrating small achievements.

If need be, break your goals down even further so you don’t become disheartened.

Like a pendulum, once you’re away and swinging there will be nothing that can stop you — you just have to give yourself a good push first.

Now is the time to take action and set yourself for the opportunities that will present themselves as the market moves on

If you’re wondering what’s ahead for property you are not alone.

You can trust the team at Metropole to provide you with direction, guidance and results.

In “interesting” times like we are currently experiencing you need an advisor who takes a holistic approach to your wealth creation and that’s what you exactly what you get from the multi award winning team at Metropole.

If you’re looking at buying your next home or investment property here’s 4 ways we can help you:

1. Strategic property advice. – Allow us to build a Strategic Property Plan for you and your family.  Planning is bringing the future into the present so you can do something about it now!  This will give you direction, results and more certainty. Click here to learn more
2. Buyer’s agency – As Australia’s most trusted buyers’ agents we’ve been involved in over $3.5 Billion worth of transactions creating wealth for our clients and we can do the same for you. Our on the ground teams in Melbourne, Sydney and Brisbane bring you years of experience and perspective – that’s something money just can’t buy. We’ll help you find your next home or an investment grade property.  Click here to learn how we can help you.
3. Wealth Advisory – We can provide you with strategic tailored financial planning and wealth advice. Click here to learn more about we can help you.
4. Property Management – Our stress free property management services help you maximise your property returns. Click here to find out why our clients enjoy a vacancy rate considerably below the market average, our tenants stay an average of 3 years and our properties lease 10 days faster than the market average.

from Property UpdateProperty Update https://propertyupdate.com.au/how-to-overcome-analysis-paralysis-in-real-estate-investing/