Getting Started in Real Estate: Why Waiting Isn’t the Best Option
When you think about the Kansas City Royals, it’s easy to imagine a team that hits home runs to win games. But if the Royals only relied on home runs, they wouldn’t be very successful. While home runs are exciting, they are not the foundation of winning baseball. The Royals understand that success comes from a variety of strategies—bunting, stealing bases, advancing runners—tactical plays that help them manufacture runs and score in different ways.
In the same way, real estate isn’t just about finding the “perfect” property and landing the deal of a lifetime. It’s about using all the available tools and strategies at your disposal. In real estate, we often refer to this as “taking what the market gives us.” Whether you’re just starting out or looking to grow your portfolio, the market is dynamic, and there’s more to consider than just what seems obvious, easy, or ideal. The key is to be flexible and adaptable, just like a baseball team that knows how to manufacture runs even without hitting home runs.
Don’t Overwhelm Yourself with Information
When you’re first starting out in real estate, there’s a wealth of information at your fingertips. Between family and friends offering advice, countless blog posts, books, podcasts, and articles, it can be overwhelming. Everyone seems to have an opinion on the “right” way to buy a home or invest in property. The internet is full of great resources, but it’s easy to absorbing too much information, which can lead to what we call “Paralysis by Analysis.”
If you’re like me, and you tend to be analytical, it’s easy to get buried in the details. You may start overthinking every decision, weighing every option, and constantly searching for the perfect property or the best deal. But here’s a reality check: There’s no such thing as perfect in real estate. And sometimes, it’s better to take action now, rather than wait indefinitely for a situation that feels “perfect.”
There’s Always Something You Don’t Know
Even after all the research you do, there are always things you won’t know. And it’s often the things you don’t know that can cost you money in real estate. This is why having the right support team is essential—whether it’s a knowledgeable real estate agent, a skilled home inspector, or a trusted lender. These professionals help you navigate the complexities and ensure you’re not blindsided by hidden costs or issues that weren’t apparent during your search.
No Home is Perfect—But That’s Okay
There’s a saying in real estate that rings true: “Don’t wait to buy, buy and then wait.” In Kansas City’s strong and diverse economy, you’re often better off purchasing a property that’s 75% perfect, rather than waiting for a unicorn. The longer you wait, the more you might miss out on the opportunities available right now. If I had a nickel for every person I’ve talked to who is waiting for “rates to drop” or “the market to crash”, I’d be rich. It’s sad to see these people ultimately get priced out of homeownership for the foreseeable future.
Whether you’re looking at a brand-new home or an older property, remember this: No house is perfect. Every property has its flaws—some minor, some major. The key is knowing how to evaluate a home’s potential and understanding that maintenance and repairs are a part of homeownership.
Before making a purchase, always get a professional inspection. This helps you identify any major issues that might not be immediately obvious, such as foundation problems, electrical issues, or roofing concerns. It’s also wise to consider getting a home warranty to protect yourself from future repairs. But don’t drain your savings to make the purchase—ensure you can comfortably manage the mortgage payments and any future maintenance costs.
The Art of Negotiation
Negotiation is another crucial aspect of the real estate process. One of the biggest mistakes many buyers make is listening to people who aren’t actively in the market. Some people think that a successful real estate transaction is all about “stealing” a property at a rock-bottom price. They’ll offer ridiculously low bids, hoping to work their way up from there. But that’s not always the best approach.
In real estate, sometimes you just need to get on base. Don’t be afraid to make an offer that’s reasonable and fair, but be willing to negotiate. The best deal doesn’t always come down to price; sometimes it’s about timing, location, and how well you can make the deal work for both parties. You don’t have to drastically overpay, but you also don’t want to lose out on a great opportunity just because you were too focused on getting the “perfect” deal.
Stretching to Buy: A Personal Risk Tolerance Story
When I started buying my first rental properties, I had to stretch my finances to make it work. And by “stretch,” I mean that we either drained our savings or made repairs ourselves to make the deals happen. This was my personal risk tolerance, and it worked for me at the time, but it’s important to remember that everyone’s financial situation is different.
Not everyone is in a position to take on that level of risk. And that’s okay! The key is to assess your own financial situation and determine what level of risk you’re comfortable with. You don’t need to drain your savings or put yourself in a difficult position to start building wealth through real estate. Start small, and as you grow more comfortable, you can take on more risk.
Final Thoughts: Take Action and Build Over Time
Just like a baseball team focusing on getting on base rather than swinging for the fences, real estate success is about making steady, strategic moves. Don’t get bogged down by trying to find the perfect property or waiting for a “once-in-a-lifetime” deal. Instead, look at the opportunities available right now, and take advantage of them.
In Kansas City’s vibrant real estate market, there are countless opportunities for buyers and investors willing to take action. So, whether you’re buying your first home or your fifth rental property, remember that it’s about making progress, not waiting for perfection. Get in the game, make smart decisions, and watch your real estate portfolio grow over time.
Ready to make your move in the Kansas City real estate market? Contact us today to learn more about the options available to you and get started on your path to homeownership or investment success.
Questions? Feel free to reach me below.
Justin Rollheiser – REALTOR®
Keller Williams Realty | Diamond Partners Inc
13671 S Mur-Len Rd | Olathe, KS 66062
Direct 913-800-7653
Office 913-322-5878
www.JustinRollheiser.com
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