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Updated almost 7 years ago on . Most recent reply

Lamar Witcher's profile image
Lamar Witcher's profile image
Lamar Witcher
  • from Toledo, Ohio
  • Member since Jun 5, 2018
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Lamar Witcher's profile image
Lamar Witcher's profile image
Lamar Witcher
  • from Toledo, Ohio
  • Member since Jun 5, 2018
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Lamar Witcher
  • Toledo, OH
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Starting Out

Mistakes in Real Estate

Lamar Witcher
  • Toledo, OH
Posted

What are the most common mistakes made by new investors in real estate, and what are mistakes that even veterans make?

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Andrew Fredrickson's profile image
Andrew Fredrickson's profile image
Andrew Fredrickson
  • Rental Property Investor
  • from Illinois
  • Member since Aug 11, 2017
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Andrew Fredrickson's profile image
Andrew Fredrickson's profile image
Andrew Fredrickson
  • Rental Property Investor
  • from Illinois
  • Member since Aug 11, 2017
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Andrew Fredrickson
  • Rental Property Investor
  • Illinois
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Andrew Fredrickson
  • Rental Property Investor
  • Illinois
Replied

@Lamar Witcher

I think the most common mistake I've seen new investors make is to assume their positive cash flow = (monthly rent) - (mortgage payment). 

When you're just starting out with REI, people don't always realize how much money they should be setting aside for

  • maintenance
  • capex
  • property management 
  • vacancy 
  • etc. 

That's probably the biggest thing I've seen. 

Best,

Andrew

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