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10 Costly Mistakes to Avoid as a New Real Estate Investor Most people are intimidated by the seemingly high cost of buying investment real estate. Few have tens of thousands of dollars to splurge on a portfolio of properties, and the gurus know that if they don’t address this objection, it will cost them a ton of sales. To overcome the fear, bogus gurus tend to focus their sales pitches around “no money down” techniques – a real estate strategy that allows investors to flip properties before any money has to leave their pockets. Every salesman in every industry focuses on the positive aspects of their product, but it’s the ones who make no mention of any downside that you need to look out for. Real estate investing is often a dicey game of battling banks and government offices in court to acquire and sell properties. Every investor takes some loses, and the headache of constantly responding to legal threats against your assets can drive some people out of the industry entirely. However, a true shyster’s sales letter will never warn the novice investor about such unpleasant times. Instead, all you will ever <strong>read</strong> about are the fortunes to be had and the easy life of working from your home office without a boss to answer to. As mentioned above, the con man or woman’s game is one of selling dreams, not realities, and when the reality is anything less than desirable they will completely omit it. A common game that real estate conmen and women use is the continuous up-sell. At first, they use the hype tactics discussed combined with an extremely low training course price to make you feel like you’re getting a steal. However, when the course comes, it contains nothing but basic information and an attempt to sell you the “advanced” course for a much higher price. Disappointed, you conclude that the advanced course is what you really need and send away for it, only to find that it too tries to sell you supporting DVDs and workshops that explain “the real secrets you need to know.” 32 10 Costly Mistakes to Avoid as a New Real Estate Investor
10 Costly Mistakes to Avoid as a New Real Estate Investor At this point, it isn’t about helping you succeed, in fact it never was. It’s about squeezing your dream for all its worth and selling you as many seminars, booklets, training DVDs, memberships, and everything else under the sun until you eventually catch on and leave for good. By then however, it’s too late – all you have for your time and money are empty promises, an even emptier wallet, and table full of useless study material. Beware of the get rich quick mentality. Stay focused on your goals and you’ll come out just fine. Mistake # 7 Investing Without a Clear Goal Sometimes real estate investing for beginners can seem a bit intimidating and it’s easy to get lost in the lights and sounds of all the blogs, books, and television gurus with their slick hair. To help cut through the nonsense that’s out there I wanted to create a short list of tips you can use as you embark on your journey to find reach your goals through real estate. 33 10 Costly Mistakes to Avoid as a New Real Estate Investor
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