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Updated over 9 years ago on . Most recent reply

User Stats

104
Posts
13
Votes
Christian Lincoln
  • Contractor
  • new paltz, NY
13
Votes |
104
Posts

Everything a little oversimplified here.

Christian Lincoln
  • Contractor
  • new paltz, NY
Posted

Having been in the game now for six years, I will say the overall tone of Bigger Pockets is much more realistic than all the other "get rick quick" real estate investor sites. However, a warning to novices. Things are more complicated than they seem, even here. There is an optimism here that is not entirely pie in the sky, but you have be ready to face a lot of complications in this game.

Just this month alone:  mortgage criteria for rehab loans, lots of paperwork, special inspectors, bank appraisals that come in differently than expected, stalled market conditions throwing off sale predictions, financial scrutiny. Asbestos surprise. Delays because of permitting, septic complications,  etc, etc it goes on and on.  So if you are not ready for this stuff, keep your day job. 

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