Alicia Stoughton
Learning from mistakes
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $27,000
Cash invested: $300,000
This is a fix and flip we have been tackling long term. We purchased the property f...
Xavier Randall
Sincere Post Mistake
Dear Fellow Professionals-Yesterday I posted regarding seeking investors for apartment buildings. I did not know that was not allowed unless it's in the Marketplace. I should've known. I apologize for this error. Have...
Cynthia Heaton
Rookie Purchasing Mistakes
My husband and I are under contract for our first investment property. We feel we got a great deal in an up-and-coming neighborhood with the potential for a high ROI. We used a real estate agent to have access to MLS ...
Greg Todrank
Closing Costs Mistake
I just got a check back from the title company on a property I closed on 2 weeks ago. I wired the amount given to me by the bank and it turns out it was $1600 more than it should have been.Moral to the story: check ...
A.Michelle Blakeley
Biggest Wholesaling Mistakes?
I am currently wholesaling a neighbor’s property (owner recently passed). Unless I can access unconventional financing, I’ll need to wholesale the property to an investor or maybe partner with someone. I’m new to whol...
Holly Barrett
1031 Mistake - Oops!
So I made a mistake.We sold a rental property and I assumed that we had to do 1031 exchange to avoid capital gains tax. My bad. I didn't double check for exceptions.$850 later, thinking I was so smart for doing 1031, ...
Ronnie Sparrow
Title company mistake
I recently closed on deal on a house which I used used private money. The purchase price was $65,000 and rehab costs were $6,000. Total loan amount was $71,000. The title company used part of the $6,000 for closing co...
Bobby Beard
Failures and mistakes?
Any weathered investors have any stories they could share for us newbies? Any cautionary tales? Any flips that cost 3 times as much as originally thought or more? Any properties that couldn't be rented after remode...
Dale Osborn
The 737,000 mistake
The National Association of Realtors (NAR) is trying to explain why their 4 year average for resale homes is off by close to a million homes. This is another indication that there needs to be outside checks and balanc...
Account Closed
Personal Finance Mistakes
When it comes to personal finance, I believe that knowing what not to do can be just as important as knowing what to do.
Anyone who listens to the BiggerPockets or BiggerPockets Money podcast is familiar with this q...