If they don't know where they are going, no matter what else you talk about, you aren't buying that house unless you can solve the problem of where they are going.The most colossal mistake in all off-market acquisition is that people use the same dumb scripts for all sellers and they almost always talk about a cash offer.

Keep it straightforward at first, but know that experience is the best teacher—mistakes are part of the process and will help you learn.For ARV (After Repair Value), start by running comps (comparable sales) on recently sold properties in the area that are similar in size, style, and condition to your planned rehab.

Believing there is less risk because you are investing a small amount of money (in this case using only a 5% down payment) is the second biggest mistake you are making behind purchasing this asset property in the first place. 

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

Then he admitted his biggest mistake was not holding properties, so I asked why.

Real estate investing is forgiving; the average person can still make money even with some big mistakes.

Moreover, they were showing us different cash flow sheets with big mathematic mistake.

@Roy Lam you made an honest mistake with the garage.

I chose Chase because they had a lower rate than the local lender I talked to in Alaska but now I can see that was a big mistake.

Investors must understand the direction of the market before investing, which is a mistake a lot of new investors make.