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Have you ever been embarrassed to admit you are new at something? It can be uncomfortable to learn something new. You think everyone knows more than you. You are afraid to share your opinion for fear of being shamed. Maybe you hide in the back of the Lady Landlords Facebook group and don't post, don't comment because you are afraid of being judged.
Remember, every single person was once a beginner in Real Estate Investing. And, we all have made mistakes along the way, but it's how you respond to them and move forward that sets us apart!
If you made a mistake, how do you ensure you do not repeat it again? 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. Talking about strategies I didn't understand. I was totally overwhelmed. I made mistakes that cost me time and money. I don't want that to happen to you!
I spent the past few years educating myself, paying for help, and doing and learning everything I could. If you have been a part of Lady Landlords for a while now, you know my goal is just to make it easier for one other woman to reach Financial Freedom through Real Estate Investing. So...
Here are the biggest mistakes Real Estate Investors make that you should avoid: 1. They don't have direction. You don't just get into a car and drive without knowing your destination, right? Well, you shouldn't in Real Estate Investing either. You need a map to help keep you on track with an end goal in mind. Something to go back and refer to when you lose your way! Set your goals and intentions from the beginning so you know where you are headed. 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! When I first started investing, every day I blocked off just 15 minutes to practice analyzing deals. I didn't care what or where the property was, I just needed to get used to seeing the numbers and learning how to make them work so I knew how to make a deal confidently! Get help analyzing deals here! 4. They don't surround themselves with the Right Team Building a team of trustworthy people can be hard. Go in with questions and interview potential team members just like you would interview someone for a job. It's the same! You are looking to hire these people, so make sure to ask the tough questions. You will need to rely on these experts so you want to make sure they are the right fit for you. One of my mentees, Alexandra, even wrote out scripts from what she learned in the Lady Landlords Beginner's Course so she knew exactly what to say and ask during her interview process! Way to go, Alexandra!
5. They live in Analysis Paralysis They listen to the Lady Landlords Podcast. They watch our YouTube channel. They read all the posts in the group, but, fear takes over and they don't put any of that knowledge to good use. One guarantee in Real Estate is that no deal will ever be perfect. So waiting for perfect conditions. There are dumb mistakes we make from being uneducated in REI and there are mistakes that just happen. Minimize the dumb mistakes and go for it! Watch this for tips on how to move past the fear. 6. They Don't Ask for Help
Real Estate Investing is a team sport where relationships mean everything. There is no reason why anyone should sit back saying they don't know the answer to something. Not sure how to find a deal? Ask. Not sure how to get started? Ask. Not sure how to secure financing? Ask. We have over 16,000 Lady Landlords figuring it out and making it work. You can too!
If you've been waiting for your sign to get the help you need to get your Real Estate Portfolio moving toward Financial Independence, here it is! Click here to learn how you can get all the help you need through the Lady Landlords Mentorship Program!