Biggest Mistakes New Real Estate Investors Make
Every single person was once a beginner in Real Estate Investing. And we all have made mistakes along the way but the beauty of our community is to make sure to share what we learned with each other!
I remember when I first started, I had no idea where to go or who to talk to for advice. People were using words I didn't understand. I tried to sound like i knew what I was talking about...but I didn't.
I made mistakes that cost me time and money.
But, I don't want that to happen to you
So, here are the biggest mistakes I see Real Estate Investors make that you should avoid:
1. They don't know their Goals
You can't get to a new location without using a map! You need a guide to help keep you on track. Something to go back and refer to when you lose your way! If you haven't completed your goals sheet, get your copy here.
3. They don't know how to Properly Analyze Deals
There is an art to analyzing deals and if you don't have your numbers right, it could cost you EVERYTHING! Practice analyzing deals using apps like Deal Check so when you finally come across the right property, you'll be prepared to go knowing your numbers are right.
4. They don't surround themselves with the Right Team
Building a team of trustworthy people can be hard. You need to screen your team even more than you screen your tenants! Ask questions and trust your gut! And if someone is doing their job, find a new team member! These are to be your trusted advisors and you need to make sure they are carrying their weight.
5. They live in Analysis Paralysis
It happens. We do our due diligence, run our numbers, and discuss it with our team. But, then, the fear sets in and we get afraid to pull the trigger. All the "What ifs" start popping into our mind. We need to learn to trust ourselves and our knowledge and take action! Watch this for tips on how to get Un-Stuck!
6. They Don't Ask for Help
But you can! Take our Beginner's Guide to Real Estate Investing Course to gain the knowledge and confidence you need to complete your deal. In the 4-sessions, we review how to turn all these mistakes into your strength which gives you an advantage over other investors. We also have an Intermediate's Guide for those stuck growing their portfolio. Learn what's included here and read testimonials from other Lady Landlords that have found success through the program!