Investment horror stories

Investment horror stories

Laveen, AZ · Member since 2016 · 584 posts · 528 votes

Dear experienced, and even newer multi unit investors:

If you could go back in time and give yourself advice, what advice would you give?  

If you knew then what you do now, what would you have done differently?

What choices have you made that didn't produce desired outcomes and became learning experiences?

What are some of your horror stories, and how did you overcome them?

I'm currently reading a couple commercial real estate books (one of which is a textbook) where the author speaks of some of their own experiences (for example, incorrectly verifying all owners of a MF he was trying to purchase thus being unable to sue for breach of contract when they backed out).  

I would love to learn from your experiences if you're not too proud to share!

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  • Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
    9y

    Advice: Act on bigger deals sooner and create more relationships

    Done differently: taken more action - bought more properties and held on to as many as possible (less flips), bought larger multi-families

    Choices that didn't produce desired outcomes: Side tracked on deals that didn't fit my model

    Horror stories: I talked about this on my podcast interview with Joe Fairless, but not having written contracts/agreements. This mistake has haunted me a few times and I have lost several hundred thousand because of it. 

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