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10 Costly Mistakes to Avoid as a New Real Estate Investor Introduction The mistakes listed in this book are being shared by the author (Damon Jones) from his own personal experiences and the experiences of other fellow investors and clientele. This list of “10 Costly Mistakes to Avoid as a New Real Estate Investor” are not intended to be the only mistakes to avoid. However, they’re the most important mistakes to avoid, which will save you thousands of dollars in unnecessary headaches and sleepless nights. Several years ago, before the pop of the real estate bubble, quite a few people decided to take the plunge and become real estate investors. Most of them had no desire to be a landlord and deal with tenants, so most of them chose to become a property rehabber/property flipper. You’ve seen this concept on popular real estate TV shows. The idea is to buy a house at a discount, fix it up and sell it for a profit. That’s exactly what most people did. However, most people didn’t realize that it was more to the real estate investment process than what was shown on TV. Real estate investing is an investment strategy where an investor purchases property in order to earn a profit. In most cases, the investor will either rent out the property, or improve on it in order to resell it at a higher cost than it was purchase for. Real estate investing can be riskier than other investments since property cannot usually be sold quickly. 6 10 Costly Mistakes to Avoid as a New Real Estate Investor
10 Costly Mistakes to Avoid as a New Real Estate Investor Owning property can offer the investor a sense of security because the value doesn’t tend to fluctuate as much as other assets such as stocks and bonds. However, this doesn’t mean that the investor will always break even or earn a profit on their investment. Although housing prices do not tend to fluctuate in the short term, they may increase or decrease in value in the longer term. Therefore, it’s important for the investor to thoroughly research the area before making a purchase. Another reason why many investors are attracted to investing in real estate is because the property can be utilized by the investor. They can either live on the property while they fix it up, or they can be a live-in landlord and earn an income stream at the same time by renting out the other rooms. This information was taken from the personal experiences of the author (Damon Jones) and experiences of the author’s fellow investors and clientele. Please educate yourself before investing in real estate and you’ll increase your profits, allowing you to reduce your stress level as a new real estate investor. Copyright © 2017 7 10 Costly Mistakes to Avoid as a New Real Estate Investor
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