Top 3 Mistakes Made by New Real Estate Rehabbers

[Corey Dutton]

You've taken the crash course on real estate investing and now you’re convinced you can make millions in real estate. You've contacted an agent to get started finding properties and you are ready to go. But what are the three most common mistakes made by new real estate rehabbers?

1.Going at it alone: The most successful real estate rehabbers use a mentor to help them find and evaluate deals. Once you find a seemingly good deal, a real estate mentor is crucial in helping you make the deal a good deal. If you skip this step of using a mentor, this is probably a mistake.

2.Using only one realtor: Don’t sign a contract with a single realtor right away. Talk to multiple agents and tell them your unique goals. Test each of these agents out before signing a contract. One of the most common mistakes is locking in with only one agent that never sends you quality deals to look at.

3.First rehab is a gut rehab: Never take on a gut rehab on your first few deals. There is a big difference between a cosmetic rehab and a gut rehab. Until you are experienced doing several cosmetic rehabs first, don’t make the mistake of taking on a gut rehab.

These are just a few of the most common mistakes made by new real estate rehabbers. What else would you add to the list?

Posted by Corey Curwick Dutton