Best/worst advice you’ve gotten as a new investor ?

[Christine Sierra]

Wondering what kind of advice you all have gotten after sharing your desire to become a real estate investor with others.

I’ll go first!

My husband asked his uncle (who’s owned several rentals) for some insight into investing and he tells him, “don’t bother, it’s too risky” he then suggested that he’d be more successful buying old bikes, fixing them and selling them on the internet!

I think I’m just looking for some encouragement at this point. Instead of trying to network I tend to think twice before sharing our goals with people.

[Todd Pultz]

@Christine Sierra

Worst: if your buying cheap properties......(this was 2012 and we could buy quads for 20-30k). You don’t need insurance. You’ll pay more for insurance than you did the property. Made sense lol!

Result: 2nd property I bought which was a 6 unit for 21k and needed 40-50k rehab burnt to the ground 2 mornings after I closed with no insurance. I still pay taxes on the green space to this day. I could get that donated off to city and stop paying taxes, but every 6 months I want a reminder to how I failed so I don’t do it again.

My advice: attach your carriage to the fast horses and be a sponge to what they are doing. Overcoming fear is the first step! You will face adversity and you need to be prepared to handle it. Real estate done right will provide a life for you and your family with financial freedom that many dream of! When you see a speed bump, jump over it......when you face a brick wall, break that S$*^ down and when your feeling down about something lean on other successful investors for encouragement and direction to overcome and accelerate forward!

You got this and you can do it, but you are the only one that can stand in your way!