Don’t Make Rookie Mistakes…


Here are three major mistakes that nearly every real estate investor (except you!) will make at some point in their career. Every one of these examples was made by a major investor who had to learn a hard lesson from that mistake:

1. Trying to do it all on your own. Novice investors often have lots of educational background, but little “real-world” experience. They understand why real estate investing works, but they may take on more than they can handle. Keep your enthusiasm under control and you will benefit in the long run.

2. Getting emotionally attached. The fact of the matter is that most real estate deals will not work out. As an investor, you have to accept that and move on when it looks like a deal is not as good as you had hoped. Otherwise, you will simply waste time and money trying to make a guaranteed failure work.

3. Refusing to ask for help. Lots of investors are embarrassed to ask for help when they need it. It is completely reasonable to want a guide for your first forays into real estate investing. However, largely because real estate has been promoted for the past decade as a “simple” and “easy” way to generate wealth, people find themselves feeling like they have missed something obvious if they ask for assistance. This is not only a poor decision, but also a total misconception. Real estate can be difficult, and there is no shame in generating wealth because you asked for help rather than losing your shirt because you didn’t.

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