Overcoming Real Estate Analysis Paralysis: The Steps To Take Action
TL;DR - If you can learn to be comfortable with discomfort, accept failure as growth, take advice from a mentor, and celebrate the small wins, you’ll overcome analysis paralysis and find success in real estate investing.
It’s very easy to never start.
There’s this pressure — internally and externally — to be right.
To act and appear perfect.
We don’t like failure or losing because that shows weakness.
Or does it?
Is the person who starts the journey, takes some bumps and bruises along the way, and builds their way to $10,000 a month in passive income a failure?
Or is the person who gets caught up in knowing all the facts, misses out on a deal, and never gets started?
It’s good to know the details before moving on a deal, but you have to start sometime.
Let’s talk about analysis paralysis.
Overcoming Real Estate Analysis Paralysis: The Steps To Take Action
What Is Analysis Paralysis?
In short, analysis paralysis is when someone over-analyzes a situation to the point that they never take action.
It’s easy to do in real estate investing.
You can find hundreds of articles on the internet about any given topic. And with social media, you can find people to talk to who will share their opinion — whether you want it or not.
It’s easy to get bogged down in the details and never take action.
The goal is to find a balance between being informed and taking action.
Why Does It Happen?
There are a few different reasons why analysis paralysis can happen:
The fear of failure.
The need to be right.
And the desire to have all the information before taking action.
Let’s look at each of these a little closer.
The Fear Of Failure
This is a big one.
We don’t want to fail because that would mean we’re not good enough.
It would mean we made a mistake.
And we don’t like to be wrong.
So, instead of taking action, we sit on the sidelines and do nothing.
The Need To Be Right
This is closely related to the fear of failure.
We want to be right because that means we’re smart, competent, and know what we’re doing.
If we take action and it turns out to be the wrong move, then that would mean we made a mistake.
And we don’t like to make mistakes.
The Desire To Have All The Information
This is probably the most common reason for analysis paralysis.
We want to have all the information before we make a decision.
But the problem is, there’s always more information to be had. Especially with real estate investing!
You can never know everything about a deal before taking action.
And even if you did, things can always change.
So, you have to find a balance between being informed and taking action.
How To Overcome Analysis Paralysis
Now that we’ve covered what analysis paralysis is and why it happens, let’s go over how to overcome it.
Step #1 — Get Used to Discomfort
The first step to overcoming analysis paralysis is to be comfortable with discomfort.
That’s because staying in your comfort zone is one of the easiest ways to never take action.
It’ll cause you to never try anything that’s hard or pushes you.
And let’s be 100% real…
Investing in real estate can be uncomfortable. There will be times when you’re not sure if you’re making the right decision.
Especially as a new investor.
But if you can learn to be comfortable with that discomfort, it will help you take action.
Step #2 — Know That Failure = Growth
Step two to overcoming analysis paralysis is to accept failure as growth.
The fact of the matter is that failure is a part of getting better.
As you fail, you gain knowledge that you wouldn’t otherwise have. Which you can then use to propel yourself forward next time you’re in a similar situation.
Each mistake is a mark of experience that you can wear proudly.
It’s proof that you’ve put in the time, got your hands dirty, and became better for it.
Step #3 — Listen to a Mentor
The third step to overcoming analysis paralysis is to take advice from a mentor.
A mentor is someone who’s been through the same process you’re going through. They’ve put in the blood, sweat, and tears to become successful.
Because of that, they can help guide you on your real estate journey.
They’ll give you key insights that’ll help you know when to take action. What things to look for. Stories they’ve lived through.
Having a veteran investor by your side can do wonders for your confidence.
Not to mention, they can help you find success more quickly than if you were alone!
Step #4 — Celebrate Small Wins
The fourth and final step to overcoming analysis paralysis is to celebrate your small wins.
This might seem like a strange thing to do…
But it’s important to celebrate your successes — no matter how small they might be!
Each win you stack up counts.
It shows you took action — even if you didn’t feel like it — and got the results to boot.
And plus!
Investing in real estate is a journey. It’s important to enjoy the ride.
Do the Hard Work
Analysis paralysis can be hard to overcome.
But the biggest thing is to just start.
Instead of waiting on the sidelines, do something today that’ll push you toward your goals.
Whether that’s reaching out to a real estate agent…
Meeting up with a real estate investor near you…
Or looking for properties for sale in your desired market.
Just get 1% better each day and you’ll be on your road to wealth in no time.
Until next time…
Happy Hunting!
How We Can Help You
Does investing in real estate sound intriguing to you? Would you like to learn more? We’d love to be of value!
At Undoor, we pride ourselves on teaching new and experienced investors how to maximize their gains with minimal stress. Our goal is to help you fall in love with real estate and real estate investing. What we’re most passionate about is maximizing investment gains for people like you.
Do you want to get key insights and advice that’ll help you get ahead of the game? Don’t hesitate to contact us for any and all real estate wants or needs.
