Mistakes...?
MISTAKES? You're not kidding.
These are killer BAD mistakes with real estate, too.
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+ Real Estate Investing Mistake #1: Only Having One Exit Strategy
If you buy a property, you probably have an idea of what you want to do with it.
However, you also need at least two other ideas about what you will do with it
if your plans fail. Otherwise, you can end up stuck with a lot of "dead" deals.
+ Real Estate Investing Mistake #2: Only Doing One Deal at a Time
Doing just one deal at a time can create several problems. First, if that deal
falls through you have nothing else in the pipeline, which creates a time lapse
that can cost you money. Secondly, only doing one deal at a time often means you
will put too much into making a deal work that really is not a very good opportunity.
These are killer BAD mistakes with real estate, too.
--------------------------------
+ Real Estate Investing Mistake #1: Only Having One Exit Strategy
If you buy a property, you probably have an idea of what you want to do with it.
However, you also need at least two other ideas about what you will do with it
if your plans fail. Otherwise, you can end up stuck with a lot of "dead" deals.
+ Real Estate Investing Mistake #2: Only Doing One Deal at a Time
Doing just one deal at a time can create several problems. First, if that deal
falls through you have nothing else in the pipeline, which creates a time lapse
that can cost you money. Secondly, only doing one deal at a time often means you
will put too much into making a deal work that really is not a very good opportunity.
+ Real Estate Investing Mistake #3: Underestimating the estimates.
Many seasoned investors say that they actually double the cost of every work and
repair estimate when they are deciding whether or not to do a deal. If they cannot
make money on the property when the costs are doubled, then they don't do the deal.
If you underestimate the time and money it will take to get a property in saleable
condition, you nearly always lose.
Many seasoned investors say that they actually double the cost of every work and
repair estimate when they are deciding whether or not to do a deal. If they cannot
make money on the property when the costs are doubled, then they don't do the deal.
If you underestimate the time and money it will take to get a property in saleable
condition, you nearly always lose.
Hope it helps you with your real estate investing,
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