Common mistakes can cost thousands.

Creating customized procedures is going to result in more work, more mistakes, and more frustration than it's worth. 

One mistake people make it looking at the highest asking prices for comparable properties.

3 Steps To Take Immediate Action:1) Set small, short-term goals (establishing a one-year, three-year, five-year goal has helped me tremendously)2) Seek help from people smarter than you (I am never shy to ask questions, even the stupidest ones)3) You grow through what you go through (We will make mistakes along the way and that is ultimately what will help us become better investors)

What are some common pitfalls or mistakes to avoid when starting a private lending business?

If you have a poor deal be forthright about it but make sure you don't repeat that mistake so you can share a learning experience.

You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.4.

Mistakes in reporting sales of properties are common.

You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.4.

Make no mistake i want to and will invest in the U.S but not until i get a firm grasp and im confident even without seeing the property.