Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago on . Most recent reply

User Stats

1,434
Posts
677
Votes
Jason Malabute
  • Accountant
  • Los Angeles, CA
677
Votes |
1,434
Posts

biggest misconception about real estate

Jason Malabute
  • Accountant
  • Los Angeles, CA
Posted

The biggest misconception about real estate is that you can be an introvert and hide behind your properties.

Well, maybe if you wanted to stay small forever you can stay in your bubble and talk to to people only when you have to.

If you have a big ambition in real estate you're going to have to get over being shy.

The hardest part about  analyzing deals is determining market rent and rehab cost.  I'm always coordinating with my contractor to get an accurate rehab cost. I'm always in communication with my property manager to estimate market cost once fixed up. Don't even think about trying to calculate these numbers by yourself because you'll go crazy.

Moreover, I'm calling sellers everyday trying to make a deal happen. 

I'm telling everyone I meet my buying criteria because you never know who they know.

 If a boy like me with a disability and speech impediment can get over his fear of talking to strangers to achieve his goals... ummmm so can you :)

Most Popular Reply

User Stats

13,381
Posts
19,414
Votes
Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
19,414
Votes |
13,381
Posts
Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
Replied

You nailed a few things hard here.  The one big thing I don't agree with is your biggest misconception.  As far as I'm concerned, the biggest misconception is that the property is your asset.  It isn't.  The property is just the temporary resting place for your asset, before it moves forward.  Your asset is your cash...in the form of cash flow and equity.

Loading replies...