Real Estate Investing Mistakes Every Beginner ALWAYS Makes
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The video discusses common mistakes made by new real estate investors and how to avoid them. The first mistake is not doing enough research on the market and specific property, or doing too much research and never investing. It is important to find a balance and stick to the numbers and facts before investing. The second mistake is not having a plan or goal in mind when investing. Without a plan, investors are less likely to take it seriously and may not actually follow through. The third mistake is underestimating rehab costs. To avoid this mistake, new investors should get three bids on every project and be prepared for unexpected costs. The fourth mistake is thinking you can do everything on your own. It is important to have a team behind you, whether it's trusted contractors or people who can help you out along the way. Additionally, it is important to not let emotion get involved and think too big. Lastly, it is recommended to add at least 10% to 20% fluff on your budget to account for unexpected costs. The sixth mistake is not being willing to pay for help. The seventh mistake is not having patience and delaying gratification. The eighth mistake is not having proper expectations. Persistence is key, and it's important to not give up.
The video discusses common mistakes made by new real estate investors and how to avoid them. The fir