What do you wish people had told you when you started?

[Richard Chan]

Greetings and Salutations BP folks!

I found BP via Youtube starting with Peter Harris's videos and following suggestions.  Can't begin to say how impressed and motivated I am to have found this community.  Thank you!!

I intend to invest in multi family dwellings, starting with at least a 4 plex is my plan.  I have chosen this niche for many reasons I won't go into here.  This is my focus, and I intend to buy and hold, hopefully house-hacking the first one.

I have been working on analyzing properties using the knowledge gained from BP, and am happy to say it's not as hard as I made it out to be prior to starting.  

I live in Denver, and work at an established Title Company, so please use me as a reference for Title questions.  I very much welcome opportunities to network with anyone, f2f, phone, e-mails, etc.

Something I thought may help me is to ask all of you - What do you wish someone had told you before you started investing? This can be very general, like "I wish someone had told me that the work is 90% persistence." Or it could be something very specific such as "I wish I knew about 203K FHA loans that can do 3.5% down, and all I had to do was live in the property for 2 years".

Thank you in advance!  I look forward to the future of our dreams.

[Mark Holencik]

My mentor told me this when I bought my first property. He said there is only one rule you need to know about being a landord "if they can not pay one months rent they can not pay two". Everything else you can adapt and change as you go.