So: What was your biggest mistake investing?

Unless you include the gouging in NO during the Katrina aftermath, our oil prices are still below 'inflation adjusted' records.I think one of our biggest issues is that oil is considered a 'limited resource'. yet we continue to pour research $$ into ways to product MORE oil QUICKER. and drive down costs. when in fact, we should probably have been investing in ways of driving down demand. but with they hybrid boom, i think we are finally seeing that. hopefully it will continue even after (if) prices drop.happy Wednesday-

My biggest interest in foreclosures / under valued homes that just need a lot of TLC. we have done minor landscaping, new floors, counter tops, and currently working on rebuilding the 1 car garage, so my construction experience is slowling building... :)thanks for the great site, i'm sure i'll be talking with you all on another thread!

That is my biggest worry.

For the biggest obstacle to creating real wealth(taxes) to not be of interest did surprise me.

You are sitting in the heart of one of the biggest real estate booms in memory.

One of the biggest mistakes made by people who get unexpected windfalls is GOING NUTS WITHOUT A PLAN.

It has been the single biggest hassle of my life.

Then you need to see as many "junkers" as you can and get comfortable inspecting the property top to bottom and estimating repairs.When you know how much the property will be worth when it is fixed up (the market) and what it will take to get it fixed up (the estimate) then you can make offers on the junkers.The biggest sticking point for new investors is being comfortable with finding these two numbers.

It isn't the biggest payday but you still get to profit from finding the deal.Use a hard money loan to buy and fix and then get a conventional loan when you are done to payback the hard money loan.