Look around you, are you influenced by happiness, success, wealth, and drive or are you surrounded with doubters, negative people, and people who are settled in life.I had to learn a very hard lesson a few years ago in that concept.

You will learn so many valuable lessons in property evaluation, the transaction process, and property management with that first deal.

Lesson learned.

I guess this is one of those lessons learned as a newbie, since this will be my first rental.

It cost me 60,000 dollars to learn that lesson.

It seems like the prices are going up now but I'm hoping these will be great life long lessons.

Through advice given to others and lessons learned, y'all have helped me build a fairly solid list of rules/regulations for my future 4-plex.

I think the other great lesson is to consider the terms of the purchase and sale every bit as much as the price, and in fact you can back up to the price and terms that can meet your goals as well as create a win for the other party to make the deal happen ... so long as you know what you want, are able to figure out what they want, and have the skills & creativity to engineer the transaction accordingly.

A person can learn lessons from experiences or not.

Our lesson is to make sure that every discussion one mentions the security deposit again and again..Phew!