For a new real estate investor, what are the FIVE biggest mistakes to avoid?
For a new real estate investor, who has been studying a number of courses and is ready to get going with flips and rental property, what are the five biggest mistakes I should look to avoid that most investors make?
Most people that did flips were fooling themselves and really making money because the general price of real estate was going up. It is extremely hard to make money that way now- I would stay away from that.
Buy property that you intend to keep for a long time and that will provide you with good cash flow as a rental.
Most long time real estate investors tell me that they believe most of their profit was made by buying at a very good price and buying a very good location.
I think you should stay away from high maintenance things like pools and such.
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