I Have Been Diagnosed With Paralysis Of Analysis

[JerseyJeff 0]

Two summers ago I stumbled upon this site and made a very small attempt at REI using LP. It took me 6 weeks of getting the Sunday newspaper and circling all of the FSBO adds before I actually got past the fear of picking up the phone and calling sellers. I only made a few rounds of calls before several personal issues (job change, moving, etc.), as well as fear and the Paralysis of Analysis, forced me away from here.

 

Now it is two years later and I'm trying to make another attempt. I have re-read through MichaelC's manual as well as through all of the archived pages on this forum to re-acclimate myself with LPing. I've gone through the agreements and had all of my questions/concerns addressed by the more than helpful users on this board, and of course, MichaelC himself.

 

I picked up the Sunday paper this past weekend and again circled the FSBO ads that met my criteria. My evenings are spent with my three children under the age of 5, and helping my wife out, so, my plan was to make calls during my lunch hour and speak to anyone who answered, or leave a VM to call me back if interested.

 

Yesterday, Tuesday, was the day I planned all along to begin my cold-calling venture. Well, not to my surprise, I never picked up the phone.

 

I’m not writing this post for any answers because I know at this point it is up to me to face my fear and call. I don’t need to be reminded why I am trying to get into REI in the first place, I remember the reasons; I see them every night when I go home.

 

I am writing this post to put myself out there on this board; to let everyone know I am having difficulties calling sellers in hopes that with each day that goes by, the knowledge that all of you are aware that I haven’t called yet will surpass the fear of calling the homeowners itself.

 

That may happen today, or tomorrow, or next week. I just hope that it does so I don’t have to walk away from this forum and all of you again.

 

I’ll keep you posted.

 

Thanks in advance for all of the support.

 

Jeff

[draegarfrog 0]

Dude....quit being a little girl and get on the phone and call. Better yet, give me the numbers and I'll call, and I'm in Okinawa! Seriously, give me the numbers and I'll call for you and set everything up for you and we'll split the Option Consideration. Your part will be looking at the property, getting the contracts signed, finding the t/b, marketing etc. C'mon man, it's killing me being overseas and not being able to do anything. Let's go, send the numbers.......

[Gordon Holtner 0]

Hi Jersey

 

 

The problem that you have is something that we all have we think that the person on the other end will judge us. To be honest they are I won't lie to you I haven't made an Lp call yet but I've had some experience calling people to arrange appointments to sell insurance. It is hard but you have to decide whether the pain of not doing what you want is more than the temporary pain of making those calls. We all face our challenges mine was asking someone to help me get on the right track and I've always had such a hard time to ask. Besides that you have a wife and kids who seem to keep you busy is there anyway that you could schedule sometime to make your calls? Does your wife support you in what you are trying to do? All those things are come into play.

 

Good Luck

[Craig 0]

I’m not writing this post for any answers because I know at this point it is up to me to face my fear and call.  I don’t need to be reminded why I am trying to get into REI in the first place, I remember the reasons; I see them every night when I go home. 

 

I am writing this post to put myself out there on this board; to let everyone know I am having difficulties calling sellers in hopes that with each day that goes by, the knowledge that all of you are aware that I haven’t called yet will surpass the fear of calling the homeowners itself.

 

That may happen today, or tomorrow, or next week.  I just hope that it does so I don’t have to walk away from this forum and all of you again.

 

I’ll keep you posted.

 

Thanks in advance for all of the support. 

 

Jeff

<{POST_SNAPBACK}>

 

Do a little research on small Business. Cold Calling is one of the most feared tasks. You will get there just make a committment to call each night even if its a small amount. Getting back into the habit.

[mpine 0]

Cold Calling is terrifying, you just need to make it a part of your routine. I find I am often able to get into it and enjoy it even after a while... This is a people business after all and if you can't enjoy talking to people you should probably get a desk J.O.B somewhere.

 

On the other hand I often get wrapped up in other business ventures such as the loans I originate in commercial and residential which leads me to going weeks without calling on my lists, and every time it is hard to start the calling again.

[BEV! 0]

Two summers ago I stumbled upon this site and made a very small attempt at REI using LP.  It took me 6 weeks of getting the Sunday newspaper and circling all of the FSBO adds before I actually got passed the fear of picking up the phone and calling sellers.  I only made a few rounds of calls before several personal issues (job change, moving, etc.), as well as fear and the Paralysis of Analysis, forced me away from here.

Jeff babe,

How long does your "Paralysis of Analysis" usually last before you decide to go to work your first day of work after you get hired at any of your past and current job?

And any other day after that? Please be specific and explain why it takes you that long?

[JerseyJeff 0]

Cold Calling is one of the most feared tasks. You will get there just make a commitment to call each night even if its a small amount. Getting back into the habit.

I'm trying to make a commitment every day during lunch.

 

Cold Calling is terrifying, you just need to make it a part of your routine. I find I am often able to get into it and enjoy it even after a while...

I agree. When I mentioned I did a few rounds of cold calling a few years ago, once I got the first few out of the way, it became addictive; I couldn't wait to call the next number.

 

This is a people business after all and if you can't enjoy talking to people you should probably get a desk J.O.B somewhere.

That's why I work in computers.

 

On the other hand I often get wrapped up in other business ventures such as the loans I originate in commercial and residential which leads me to going weeks without calling on my lists, and every time it is hard to start the calling again.

I agree again. The next night, when I went to make the first call, I felt as if I had never done it before, even though I might have called 30-40 people the night before.

 

How long does your "Paralysis of Analysis" usually last before you decide to go to work your first day of work after you get hired at any of your past and current job? And any other day after that? Please be specific and explain why it takes you that long?

It doesn't take anything. I go the first day and work.

The difference is that if I didn't go to work right away, I'd lose my job, and wouldn't be able to pay the bills, etc.

With REI, it is a venture for me; it is an "additional." I make a comfortable living doing what I do so I don't have the "pressure" to pick up the phone right away because if I don't, and a day goes by, there will still be food and clothes and shelter, etc. for my family.

If I was currently unemployed, you could pretty much guarantee that cold calls would have been made already because the motivation would be great.

 

Now, having said that, I still do want to start REIing. Who wouldn't want extra cash; a potential to get to where you and MichaelC and all of the other full-timers are?

[BEV! 0]

How long does your "Paralysis of Analysis" usually last before you decide to go to work your first day of work after you get hired at any of your past and current job? And any other day after that? Please be specific and explain why it takes you that long?

It doesn't take anything. I go the first day and work.

The difference is that if I didn't go to work right away, I'd lose my job, and wouldn't be able to pay the bills, etc. With REI, it is a venture for me; it is an "additional." I make a comfortable living doing what I do so I don't have the "pressure" to pick up the phone right away because if I don't, and a day goes by, there will still be food and clothes and shelter, etc. for my family.

Oh yeah, that sure takes be back to when I used to work too ahhh! I remember it very well because it wasn't too long ago.

But then one day I realized how my family deserved better (my time with them when they needed me not when I had the chance nor when I could spare some time for them) called freedom to do the things I wanted to do and go places I wanted to go with family when we wanted it... I knew I could never accomplish this kind of freedom working for someone else on this planet, so I turn to REI and guess what? BAM!

Oh yes! The freedom to enjoy life and family when we want is oh so priceless

If that's not motivating, I dunno what is

[JerseyJeff 0]

That would make for a good REI commercial...

 

Website to attract motivated homeowners...$20.00

 

Gas to drive to home to have agreements signed...$6.00

 

The freedom to enjoy life and your family when you want...Priceless

 

I understand your point, and you're right, that should be motivation enough.

 

Jeff

[Jason (AL) 1]

I cured myself of that dreaded disease.

 

Know how I did it? ...along with thousands of others before us...

 

 

 

 

 

BY DOING

 

I bet you were looking for some fancy, complicated solution, weren't ya?

Nope.

Often times the best solution for anything is often the simplest.

 

You wanna make deals?...specifically LPs?

Then go out and do something. You have Michael's manual...do what

it says and put it to use.

It's basically the blueprint to $making it$ using Lease Options.

 

I, personally, spent 2 years reading everything there was to know on how to

buy property....make deals....selling.....how to talk to sellers...blah, blah, blah.

 

Guess what good that did me?

Nothing.

Know how much $$ I made knowing all that stuff?

 

 

 

$0.00

I actually went in the negative, buying books & courses, marketing material,

cell phone minutes, gas etc. etc.

 

Since August 2004, I've bought 4 houses (sub2) and did 2 half-ass CAs.

True, it's nothing killer and I'm still working full-time at my crappy job.

But I guarantee you I made more $$$$ on those 6 deals than I did

just reading and knowing about real estate investing.

 

How's your life going to be if you keep on reading those books and procrastinating?

It's not about the $$$ anyhow.

It's about what that $$$ can do for you.

There's the difference.

 

You love your family, yes?

Me too.

That's why working for someone else and doing nothing to better yourself

is cheating you, as well as your family.

 

Fearful of cold-calling?

Why?

Is a seller going to reach through the phone and hurt you?

Nope.

Besides, they put there telephone # in public view.

You're doing them a favor. A BIG favor if you offer a CA.

So call anyway.

The best way to get over any fear is to do it.

What's the best that could happen if you actually made a cold-call?

What's the worst that could happen? Them telling you no and rejecting your

offer, not rejecting you, personally, is about the only thing I can

think of.

Even then, I never knew of the word "no" killing anybody.

It'll just make you more experienced and better in the long run.

 

So, take it from someone that was in the same place you are

in now.

 

I'm breaking away from the daily grind. Slowly (at this point in time), but surely.

I'm personally fed up with the whole working-for-someone-else-way-of-life.

Getting married (in a few days now) is another reason to do something...for me.

But what really got me going was this. I knew all this stuff pertaining to

real estate investing and making $$$, but I did NOTHING with it.

How insane is that?

I'm crazy most of the time, but I don't want to be insane.

 

Get pissed off if you have to. I did and still do at times, knowing

I could/can do better...but wasn't.

 

Now, what are you going to do?

 

Hope to see you join the rest of us soon.

Take care.

 

 

Market Market Market Market Market Market Make those calls

Market Make those calls Market Market Make those calls Market

Market.....

 

In short:

 

Shut the f--k up and do it!

[Adam King (MI) 1]

Shut the f--k up and do it!

 

Wow, how cosmopolitan.

 

Jeff,

I didn't read the whole post here but I'll give you my two cents. Do a search on motivation, getting started etc. You should pull up some juicy stuff.

Regards,

Adam

PS Nothing wrong with publicly announcing you're giving up on your ego. Worked for me.

[JerseyJeff 0]

Well, the first time around it took me 6 weeks; this time, 4 days...

 

I picked up the phone today at lunch and called some FSBO's.

 

It's a good thing I had a nice script all ready because none of the owners were nice enough to follow it.

 

21 calls; 10 of which I left voicemails.

 

One owner is potentially interested. She started out stating she would need to get FMV at the time of the sale. I told her we could do a one-year agreement as the home probably won't appreciate all that much in this short period of time, and also, with a LP, I could probably get her above FMV anyway. She responded with now isn't a good time to talk, but call back tonight and we'll discuss further. I'll call her back tonight and see what's up. It's a 2 / 1 / 2 and although you all advise to stay away from 2 bedrooms, I figure it'll be a good learning experience if nothing else. It's listed at $485,000 on 2 1/2 acres.

 

Another owner seemed disgruntled and barked back by basically saying, that's great for the buyer, what's in it for me? I told her she would maintain all of the tax benefits of home ownership until it sold and she would have her mortgage paid for by someone else for the next year. I don't think she was expecting an answer because she barked back, well, now isn't a good time, I have a plumber here, *click*.

 

Even though I made the 21 calls today, I still feel apprehensive about a] calling this owner back tonight, and b] making the next round of calls; but, you can't get to the second step without taking the first.

 

That's all for now.

 

Jeff

[Kimberly 0]

Jeff,

 

Why? Why are you wanting to do investing? What's your goal? Don't say lots of money. What would that money purchase for you and your family? When you find your why and it's big enough, you'll be cured of the dreaded P of A. Better yet instead of coming up with one or two reasons why, make a list of 25 things you'll do when you earn $x through investing or you've completed x number of deals.

 

Do you know another new investor who also needs to make calls? Maybe you could set aside a couple of hours when you are both making calls at the same time, then call each other and report your progress. That might force you to sit down and call for a longer period of time -- Saturday morning or Sunday afternoon.

 

Another owner seemed disgruntled and barked back by basically saying, that's great for the buyer, what's in it for me? I told her she would maintain all of the tax benefits of home ownership until it sold and she would have her mortgage paid for by someone else for the next year.

Remember in many if not most cases the seller will NET more through a CA than they will selling traditionally through a Realtor.

[Rich08 0]

Well, the first time around it took me 6 weeks; this time, 4 days...

 

I picked up the phone today at lunch and called some FSBO's.

 

It's a good thing I had a nice script all ready because none of the owners were nice enough to follow it. 

 

21 calls; 10 of which I left voicemails.

 

One owner is potentially interested.  She started out stating she would need to get FMV at the time of the sale.  I told her we could do a one-year agreement as the home probably won't appreciate all that much in this short period of time, and also, with a LP, I could probably get her above FMV anyway.  She responded with now isn't a good time to talk, but call back tonight and we'll discuss further.  I'll call her back tonight and see what's up.  It's a 2 / 1 / 2 and although you all advise to stay away from 2 bedrooms, I figure it'll be a good learning experience if nothing else.  It's listed at $485,000 on 2 1/2 acres.

 

Another owner seemed disgruntled and barked back by basically saying, that's great for the buyer, what's in it for me?  I told her she would maintain all of the tax benefits of home ownership until it sold and she would have her mortgage paid for by someone else for the next year.  I don't think she was expecting an answer because she barked back, well, now isn't a good time, I have a plumber here, *click*.

 

Even though I made the 21 calls today, I still feel apprehensive about a] calling this owner back tonight, and b] making the next round of calls; but, you can't get to the second step without taking the first.

 

That's all for now.

 

Jeff

<{POST_SNAPBACK}>

 

I wouldn't stay away from 2 bedrooms at all. In my market they are the easiest to move. The definition of a starter home may be changing as places continue to appreciate like mad. I bought a 2/1 for 105K and did nothing to it and sold it on a lo for $159995. I have never had as many calls as I have from my 2bds or even 1bds. It all just depends on where you live.

[Doug Pretorius (ON) 9]

I agree with Rich. 2bed's are fine especially for CA's. I've got 50 buyers right now hoping I'll land them a 2bed in the next month or so.