You Must Follow These Rules To Be Successful Investing in Real Estate
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The video discusses the cardinal rules of successful real estate investing. The first and most important rule is to buy distressed properties at deep discounts, at least 20 to 30 percent below market value minus the cost of repairs. This allows for a margin of error and protection against market shifts. The second rule is to have multiple exit strategies, such as wholesaling or keeping the property as a rental, in case things go south or change quickly. The third rule is to manage your property effectively, which includes getting good tenants in place and being quick to answer any questions or take care of any issues that the property has. The fourth and most important rule is to connect with your local community of real estate investors, both in person and online, to find people to buy your houses, work on your houses, and talk to banks and lenders. Protecting your reputation by always doing the right thing is crucial in this small industry. By following these four rules, you increase your likelihood of being successful in real estate investing. It is important to stay within your buy box and not deviate from your rules, as this can lead to stressful situations and potential losses. By following these cardinal rules, even in the worst crash in history, buying at a discount would still leave some equity in the property.
The video discusses the cardinal rules of successful real estate investing. The first and most impor