Real Estate Investor – 6 Mistakes Real Estate Investors Make

www.REIClub.com – Real Estate Investors Make Mistakes, But An Educated Real Estate Investor Can Avoid Some of These Errors… Hi, this isFrank Chen with REIClub.com, the only site you need as a real estate investor. Today I’ve got a quick video on the 6 most common mistakes made by real estate investors and how to avoid them! 1. Not Having a Team – Realtor, Attorney’s, title company, contractor, insurance agent, etc… solution start small – realtor and contractor, through time start building long term – title companies, brokers, insurance agents, real estate attorney, can get recommendations from local real estate club. 2. Focusing on only ONE real estate investment deal solution: don’t wait on ONE deal, always be looking even after submitting offers 3. Purchasing before Planning solution – you see a great deal and you forget about the fundamentals – There are a TON of real estate investing opportunities out there but it does not mean it is RIGHT for you. Keep in mind: location, condition, costs, and the market (comps). 4. Miscalculating Costs – repairs, profit margins, fees, etc… solution: free contractor estimates, realtor fees, title fees, property tax, home insurance 5. Not valuing your time as an investor solution: set daily and weekly goals to be accomplished. Excel spreadsheet – Day 1 – Hours spent on “this” – accomplished what? When you are able to take a step back and see where your time is going, you are able to better manage it. 6. Not Having an Exit
Video Rating: 4 / 5

Comments

  1. What are some exit strategies ?? If? I cannot wholesale my property ?

  2. ozinvesta says:

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  5. investbrazilorg says:

    Some good advice? real estate investors

  6. MrYetidesigns says:

    Thanks man, really great advice! And you’re one of the few people on? youtube who just has to sit in front of the camera and talk and I’m still really engaged.

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  10. buytoletlandlord says:

    great? video

  11. JaxInvest says:

    Fab videos… thanks for taking the? time to share them!

  12. ShamelessNation says:

    Thank you?

  13. – Great comment. Thanks!?

  14. – Condos are great for cash flow,? but be careful of location. I haven’t heard too much success in flipping condos. As for wholesaling, its a great start for newer investors (low risk), but there is a lot more money (higher risk) to be made with rehabs.

  15. – Personally, I like investing is single family homes because that’s what I know best, but what it comes? down to is the amount of profit you have in the deal and location.

  16. ShamelessNation says:

    Do you think it’s better to invest in single? family homes or condos?

  17. I”m just starting, so i don’t think i need a team? per se. I haven’t even made an offer.

    Question: should i even bother looking at condos? or are they good for cash flow at least. in terms of wholesaling to a rehaber are they a no no to wholesale to? Or since they are so cheap, are they what I should try to get experience rehabing myself?

  18. ALDAarchitects says:

    In my opinion the biggest mistake investors make is not having a realistic worst case scenario and analysis of? risks

  19. CarolAnnPaulton says:

    Investors need to keep? in mind that many buyers are looking to finance the property. Most banks require a title to be seasoned or they want verification that the investor is making less than a 20% profit.

  20. – Great Comment! Thanks for the? post!

  21. DoHardMoney says:

    Well said Frank. As a real estate investor, one? of the best things that contributed to my success is by setting daily goals. Instead of setting yearly or monthly monetary goals, I used to set particular goals for the day. For example – finding one new excellent property today.

    By setting such goals, I’d approach and try to find as many properties as possible. After regular approaching at the end of the month, I’d find a bunch of hot properties that I could buy.

    Keep the videos coming 🙂

  22. chanceryford says:

    Great Video! Its really a? big help for those who want to invest. you guys have a great info. I’m looking forward to get more news and new advice. Thanks!

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