Great that you look to the PART 2 of the mistakes I have made in the real estate. We will go to my last mistakes and fails in this video.
00:00 In this Video
This video Is park 2 of the mistakes I have made serie. If you haven’t watch that one, be sure to watch it before this video! In this video I will discus my mistakes and how to overcome them.
01:23 Mistake 3: Buying the wrong property
It is possible, as an investor to buy the wrong property to invest in. For each stage of a real estate investors there are different properties to buy. If you are a starting real estate investor the easiest properties to start out with are apartments. They’re generally cheap, easy to maintain and easy to find tenants for. The moment you starts growing bigger, you’re able to take on bigger deals, for example like buying a duplex or even a whole apartment building with 4, 5 or 6 units. And in my case well my very first property I purchased as a real estate deal, was single family home.
And if you don’t understand why this is a mistake, watch this part of the video…
03:58 Mistake 4: Thinking you can do everything yourself in Real Estate investing
what can go wrong? I’ve seen the videos, I’ve heard the stories, I’ve done the calculation I know what I am doing. As long as you save up the money for a down payment, you can just start this journey and become rich as long as the numbers line up. right? This is like stepping on a train that is about to depart, without knowing its destination. It is so important to really set your goals before you start, there is a reason why they say: Good preparation is half the work.
05:37 How to overcome these mistakes
It took me 3 years to save up the money for my first property, but it took me another 3 years, before i found out, that I had to take on the guidance of a real estate coach. And this coach, he wasn’t a cheap dude, but he showed me how to do it. And now? I’ve become a coach myself, and taught so many others, how to do it yourself. A good coach will teach you how You should do it, but he will also help you earn his investment back. It is so important to find the coach that understands Your needs and be your coach, the moment you’re done learning, he should be your equal. The one you can talk to every time you do another investment again. And this person should be proud of each and every student he or she produces.