Cashing In On Overlooked Off-Market Deals & Overcoming Analysis Paralysis
Your network can be your most powerful tool inside and outside of real estate. Today’s guest, Ryan John, started his real estate investing journey after seeing his friends succeed in the investing space—including his childhood friend, Ashley Kehr. Ryan has been in the real estate game for a year and a half and has closed on two off-market deals—a house hack and a duplex.
As all rookies know, trying to find and close on your first deal can be a mix of emotions. From excitement to fear to anxiousness and fulfillment, you go through various emotions when trying something you’ve never done before. While Ryan wanted to get started right away, he experienced a lot of nervousness regarding his first deal—waking up at three in the morning, scared he was missing something. But, unlike many other investors, he didn’t allow this to deter him from accomplishing his goals.
Ryan prefers off-market deals because he doesn’t have to go through a realtor. An off-market deal requires more legwork but often comes with significantly better numbers. Becoming an investor has also given Ryan the freedom to make big life changes. Ryan went to his first real estate investor meetup and met investors with a wide range of experience. After attending, an incident at work prompted him to quit. Since he lives below his means and has cash-flowing rentals, he has the time and ability to breathe and explore his options before deciding his next steps.
In This Episode We Cover
How to overcome analysis paralysis and the fear of your first deal
The pros and cons of off-market deals and how to find them in today’s market
How to buy a small multi-family property and why they’re worth investing in
House hacking 101 and how to make money using unused space on your property or in your home
Time value vs. opportunity cost and how to know when it’s time to outsource
The power of real estate meetups and being surrounded by motivated investors
And So Much More!
Links from the Show
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Check the full show notes here: https://www.biggerpockets.com/blog/rookie-229
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