When I first started investing in real estate, one of the things that held me back from buying my first property was trying to find the perfect deal. As I looked at more and more properties, I could find reasons to kill just about any deal I was considering. Later I came to realize there is no such thing as the perfect deal and that looking for the deal of a lifetime was just another way to stay stuck in analysis paralysis.
If you believe me when I say that there is no perfect deal out there, you can loosen up and start to simply look for great deals instead. Then the question becomes “what makes a great deal?”
Continue reading “There is No Perfect Deal” on my blog at BiggerPockets to figure out what a great deal means for you and the power of simply tackling one great deal a time.
I thought your article was very well put. One of the reasons I jumped into real estate investing after the mortgage crash (crash started a little earlier here in Michigan than is some other parts of the country), was because you no longer had to find that perfect deal or “home run” so to speak. Prices are so low compared to rents, that really, everything is a good deal right now. Like you said, overcoming that internal fear of not getting the “best deal out there” can be difficult. However, it needs to be done if you want to grow your holdings and focus on other equally importand areas of real estate investing, such as how to finance it.
good luck with your investments
-Andy
Hi Andy,
Thanks for your comment. Everyone gets their push from a different source, and the sooner we realize there is no perfect deal, the gentler that push needs to be 🙂
Cheers,
Andrew