One of the most common fears that keeps aspiring real estate investors trapped in analysis paralysis is, “What if I can’t find a good deal?” It’s a valid concern—after all, the whole point of investing is to make money, and you make money when you buy it not when you sell it, as the saying goes. 

But let me tell you something that might surprise you: You don’t need the “perfect deal” to start building wealth through real estate. In fact, waiting for perfection can paralyze you, keeping you from ever taking that crucial first step.

Here’s how to shift your mindset, evaluate opportunities, and move forward confidently.

Define “Good Enough”

I know, I know ... as a straight-A student and high-achieving career person, "good enough" is a phrase that might never have come out of your mouth before. I hear you! But most investors will invest in more than one property over the course of their life ... just like most people will change jobs and change personal residences at some point in their life. The first one does not need to be the "forever" investment. And "good enough" is all you need to get started, learn, and iterate. Before you start searching for properties, you need to define what a “good deal” means to you. This will depend on factors like:

• Your financial goals: Are you looking for cash flow, long-term appreciation, or both?
• Your risk tolerance: Are you comfortable taking on a fixer-upper, or do you prefer turnkey properties?
• Your market: What’s realistic in the areas where you’re investing?

A “good deal” doesn’t have to be a home-run. Sometimes, a solid base hit—like a property that breaks even in year one but appreciates steadily over time—is all you need to start building momentum.

Focus on the Fundamentals

Instead of chasing elusive perfection, focus on the fundamentals of what makes a property a good investment:

1. Location: Look for areas with growing populations, strong job markets, and desirable amenities like schools and parks.
2. Cash Flow Potential: Calculate whether the rent will cover your mortgage, taxes, insurance, and other expenses. Even a small positive cash flow is a win.
3. Condition: Be realistic about how much time, money, and energy you’re willing to spend on repairs.

If a property checks these boxes and aligns with your goals, it’s worth serious consideration.

Learn to Recognize Opportunity

New investors often underestimate the value of good enough when they pass by properties that could absolutely make them money in a long-term buy and hold strategy where the tenant pays down the mortgage. They get stuck comparing every property to the unicorn deal they read about on a blog or saw on a YouTube channel.

But here’s the truth: those unicorns are rare, and most investors build wealth with solid, steady-performing properties—not lottery tickets. "Buy boring businesses" is how people all around you become quiet millionaires, after all. 

Look for properties where you can:

• Add value with minor updates (like fresh paint or landscaping)
• Negotiate better terms with motivated sellers
• Optimize rental income by making the property look and feel like a place someone would want to call home for several years

The more properties you go out and see, the better you’ll get at spotting opportunities and pitfalls that others might overlook.

Action Beats Perfection

You’ve probably heard the phrase, “Don’t wait to buy real estate; buy real estate and wait.” It’s a cliché for a reason. Time is one of the most powerful factors in building wealth through real estate.

Instead of waiting for the “perfect” deal, take action on a property that’s good enough to get you started. Real estate investing is a skill that you’ll refine over time, and your first property is your training ground. As long as you can charge rent that is high enough to cover your mortgage, taxes, insurance, and have a little cushion for repairs, then your tenant will be paying down your mortgage for you. And with that strategy, time is your best friend. 

Ask for Help When You Need It

If you’re struggling to feel confident about evaluating deals, don’t be afraid to ask for help. Whether it’s a mentor, a coach, or an experienced real estate agent, surrounding yourself with knowledgeable people can make all the difference.

Pro tip: Look for real estate agents and lenders who specialize in working with investors. They can help you understand the numbers, market trends, and red flags to watch out for.

Your First Deal Won’t Be Your Last

Remember, your first deal is just that—your first deal. It doesn’t have to be perfect because it won’t be your last. Each property you buy will teach you something new, helping you refine your strategy and grow your portfolio.

The real mistake isn’t buying a property that’s “good enough.” It’s letting fear of imperfection stop you from starting at all.

Finding a “good deal” is less about perfection and more about taking informed risks. The sooner you take that leap, the sooner you’ll start building wealth, learning from experience, and setting yourself up for long-term success.

You don’t need to be perfect. You need progress.