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1 November 2024 | 30 replies
It would be a big mistake to pull the trigger on a property in an area like that.
30 October 2024 | 94 replies
That sets the tone for learning about the future.All the advice here (and there are great insights) will not substitute going out and getting a deal.if you are serious about a future in RE, you will learn from your mistakes in your first deal and you will use those mistakes to help you in your second deal and so forth.Most importantly you will if you enjoy the journey of RE investing.
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30 October 2024 | 11 replies
The biggest mistake I made in my RE investing career early on was being so conservative that I only bought homes for cash, i.e.
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28 October 2024 | 15 replies
Higher end firms do that for liability purposes and to help eliminate construction conflicts because trades do not talk to each other.
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27 October 2024 | 3 replies
That eliminates the need for a good credit score, or a down payment, and the interest rate would be negotiable between you and your parents.
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30 October 2024 | 12 replies
My mistake was locking in the 30K for the furnishing and construction to make into a “better” STR property.
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31 October 2024 | 17 replies
We all start from somewhere and you learn and grow from your mistakes.
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26 October 2024 | 1 reply
Rents tend to rise over time, amortization steadily increases equity, incomes rise, so the investor has a lot of “cover” for unfortunate timing or operating “mistakes”.Number 2 - periods like 1932 - 1941 and 2008 - 2013 are much harder on this strategy.
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22 October 2024 | 8 replies
Eliminate debt, establish a budget, and save.
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24 October 2024 | 13 replies
Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.