Real Estate Investment Fail (7 Crucial Lessons Learned)

If you've been following this YouTube channel you know that I am a Certified Financial Planner.

I help people manage their money and make smart investments decisions. 💸

In other words, I prevent them from losing their butt off of stupid impulsive money making ideas.

There is one investment area that I don't know a lot about and actually had a failed experience with.

So, what was this investment that I failed miserably with?

‼️ It was Real Estate! ‼️

A lot of people want to invest in real estate and it is something you can make a lot of money with.

You can also lose a lot of money!

😞 Although this did not work out for me, I learned some very valuable lessons. I want to share with you 7 things that I learned.

➡️ 1. If it sounds to good to be true -- it probably is!

This could include details of the financing program or the property itself.

➡️ 2. Stick with what you know -vs- what you think you may love.

You will spend a lot of time learning and researching vs spending time on your established income stream.

➡️ 3. True deals are a lot harder to find than you may think.

Don't get me wrong, the deals are out there, but you have to look in different places.

➡️ 4. Never overpay for a property.

Your rental income has to cover your mortgage payment, fees, repairs, etc. and still produce a profit.

➡️ 5. Cash flow is everything!

You are on the hook for this monthly payment for the next 15-30 years.

➡️ 6. Looking for deals in all the wrong places.

You are not going to find the good deals in newspapers or on on craigslist.

➡️ 7. Never let greed control your emotions.

Don't start counting the cash until you've done all your research.

I still don't own any investment properties. But, this was a great learning experience for me.

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Видео Real Estate Investment Fail (7 Crucial Lessons Learned) канала Wealth Hacker - Jeff Rose