During this episode, we explain what analysis paralysis is, and how it can affect a potential property investor.
Daimien Patterson is the CEO of Integrity Investment Properties, a property investment company based in Australia. He regularly produces books, blogs, and videos on the topic of property investing. Head to [integrityinvestmentproperties.com.au] for your free copy of Daimien’s book, Safe as Houses.
G’day guys, Daimien here from Integrity Property Investment.
Today I want to talk about the one thing that I see that self-sabotages people all the time. And it’s analysis paralysis.
Now, there – when you’re investing in property, it can be quite complicated if you want it to be. You can get down into the details and you can analyse every last bit and come to the conclusion that it’s not right for you. But the truth is, the truth is…. If you own an investment property and you hang onto that thing for at least 10 years, you’re going to make money. And there’s plenty of people who are far less intelligent than you who are making heaps of money just because they got it done. But I see time and time again people sabotaging themselves with analysis paralysis.
It’s almost like they know they should have an investment property, but the truth is, they don’t really want one. And so they then go and analyse the hell out of it until they find something wrong, and then they go that’s the reason why I’m not going to get it. But here’s the thing: at the end of the day, if you don’t own an investment property, you’re not going to make any money from property investing. It’s as simple as that. You’ve got to do it!
So there’s no such thing as the perfect investment property.
If you go looking for something wrong with it, you will find it and you will sabotage yourself.
At the end of the day, you’ve just got to get it done!
And if you’re going to get it done, you just have to accept that there is a degree of risk.
Now, how do you deal with risk?
Well, how do you deal with risk when you need heart surgery?
You go and find a surgeon who’s an expert in heart surgery and you get them to do it for you.
So if you’re nervous about property investing and you’re not quite sure what to do, well then, go and get some help!
That’s what I love doing. Let me help you! And if you don’t like me, get someone else to help you.
But at the end of the day, get it done.
Because every day that you don’t own an investment property is a day you’re not making any money from property investing.
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