MAKING REAL DECISIONS
“A real decision is measured by the fact that you’ve taken a new action. If there’s no action, you haven’t truly decided.” — Tony Robbins.
Have you ever noticed that you can talk yourself into or out of almost anything? Some of us, when faced with a tough decision, will tend to overthink our choices. We will seek out more and more data, gather more opinions and review more case studies. With an increasing volume of information, it can become almost impossible to make a decision to move forward.
Analysis paralysis is very common in real estate investors. We can study cycles, fundamentals and influencers of the real estate market. Economical updates become our daily breakfast. Trends and groups provide even more information to ruminate on.
Today, all stars align and we think we’ll buy a suited property. Tomorrow, that sounds like too much work and we’re investigating multi-family properties. And next week, the BRRR strategy looks ideal to grow our capital. I bet most of us could argue “Yes” “No” or “Maybe” for any of these investing choices!
Financial freedom can’t grow when analysis paralysis is running amuk in our brains. Growing our wealth and creating cashflow only happens with action, upon action. Ideally, then we build momentum. And ultimately, our business becomes systematized and continues to grow our wealth.
To be clear, we’re not advocating risk-taking or speculative behaviours. We think every real estate investor needs some background knowledge and education. Then we think every deal requires specific analysis of the numbers and neighbourhood.
But then, the critical piece is action!
Whether you DIY a property, or partner with an experienced investor, there will be action steps to move your financial freedom forward. We are very excited about the opportunities opening up in Alberta, right now! We think some people will see so many ideas that their heads start to spin into a vortex of analysis paralysis. So, before the momentum grows any further, we are encouraging our friends and family to make your best decisions today, take action, and re-evaluate your plans on a regular basis. It’s not rhetoric. You’re creating a plan for your financial future – and following through with it!
