The biggest issue is that forgetting to assign a location or choosing the wrong one can mess up your balance sheet, leading to inaccuracies.

This also leads owners to ASSUME simpler is better when it comes to management contracts.

Here is the thread I started a few months back detailing my experience with Growth Equity Group, Brett Immel, and their cronies.https://www.biggerpockets.com/...Subsequently, I've had dozens of investors come to me directly, many of them having phone conversations with me, stating how they lost most or all of their retirement funds.

I've noticed that going to brokers usually leads to the same wholesalers so it's not as useful.

My current brokerage does not help generate any leads or anything like that.

Being able to shuffle leads from MTR to MTR is a huge bonus and you can benefit from the economies of scale faster. 

@Tove Fox - Residential Real Estate InvestingPros:Lower Entry Costs: Easier to get started with less capital required.High Demand: People always need homes, making demand relatively stable.Easier Financing: Mortgages are generally easier to secure with favorable terms.Simplicity: Easier to understand and manage, especially for beginners.Flexibility: You can use it as a personal residence or rent it out.Cons:Tenant Turnover: More frequent turnover leads to vacancy and more management.Lower Cash Flow: Income potential can be modest compared to commercial properties.Emotional Buyers: Residential prices can be influenced by emotions, leading to price volatility.Maintenance Burden: Landlords often deal with repairs and maintenance, which can be time-consuming.Commercial Real Estate InvestingPros:Higher Income Potential: Stronger cash flow and higher returns are common.Long-Term Leases: Tenants often sign longer leases (3-10 years), reducing vacancy risk.Professional Tenants: Business tenants tend to take better care of the property.Valuation Based on Income: Prices are based on the income the property generates, not market emotions.Shared Costs: Tenants often cover property expenses like taxes, insurance, and maintenance (via triple-net leases).Cons:High Entry Costs: Requires more capital or partnerships to get started.Complex Management: More expertise is needed; you may need a professional property manager.Economic Sensitivity: Commercial properties are more sensitive to economic conditions.Challenging Financing: Securing financing can be harder, with stricter terms and higher interest rates.Zoning and Legalities: More complex regulations compared to residential properties.Key Differences:Risk: Residential tends to be lower risk, while commercial offers higher rewards but with greater risk.Management: Residential is easier for DIY investors, while commercial properties usually require a team.Scalability: Commercial properties are easier to scale, offering more potential for significant cash flow increases.

It's not easy, but all successful agents operate like a business with daily tasks to attract leads and follow through on those leads.

The experience was really bad as I was getting 1-2 year old leads to cold call that I knew had a 0% success rate and I do much better generating leads organically on my own.

I am 20 years old and trying to learn as much as i can about real estate so that when i graduate college and have a steady income Ill be able to make smart investments hopefully leading to financial freedom.