When fear causes Analysis Paralysis. Not with property investment

Are you a deer caught in the headlights? You’re so overwhelmed, not knowing what choice to make that your only option is to do nothing. That is what we call ‘analysis paralysis’. You spend all your time and energy researching, crunching numbers and looking for the “perfect” investment property that you never take action and actually make a purchase.

I see it happen all the time and funnily enough, I find it particularly rampant among jobs and industries that require detailed analysis, like engineers, architects and accountants. Some people, regardless of their background, have trouble making a decision without every single detail and fact laid out first.

These types of people will only buy an investment property if they can find the perfect one that ticks every last box. They get stuck going around in circles, looking for every different perspective, usually ending in a state of overwhelm and lack of action. That’s because there is no such thing as the perfect investment property.

While some properties might make you wealthier than others, you’re never going to find one that is absolutely flawless. This doesn’t mean that the property isn’t a good investment. The imperfections might simply be a manageable risk.

You don’t want to be in a position where you lose a good property to another savvy investor because you were too busy over-analyzing the facts. Successful property investors know they don’t have time to over-analyse. If the numbers add up and the factors are there, you’re onto a winner!

At the end of the day, you need to take action in order to get started, even if that action isn’t 100% perfect by your standards. If you don’t buy an investment property, you won’t make any money at all – that’s a guarantee.

Stay tuned for more daily insights from Wealth Through Property.

~Daimien Patterson

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Legal Disclaimer: This information ('the information') is presented for illustrative and educational purposes only. It is not presented nor should it be treated as real estate advice, legal advice, investment advice, or tax advice. All investments involve risk and potential loss of money. If you require advice in any of these fields you should contact a suitably qualified professional to assist and advise you. Your personal individual financial circumstances must be taken into account before you make any investment decision. We urge you to do this in conjunction with a suitably qualified professional. Daimien Patterson, IntegrityX Enterprises Pty Ltd, and their associated trading names, companies, researchers, authorised distributors and licensees, employees and speakers do not guarantee your past, present or future investment results whether based on this information or otherwise. Daimien Patterson, IntegrityX Enterprises Pty Ltd and their associated trading names, companies, researchers, authorised distributors and licensees, employees and speakers disclaim all liability for your purchase decisions. You should do your own independent due diligence and seek the advice of qualified advisors before making any investment decision.