ebook proof read april 27
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
10 Costly Mistakes to Avoid as a New Real Estate Investor<br />
Accounting – Here's where a lot of investors tend to skimp, but that's a big<br />
mistake. Having accurate and up to date accounting is essential to operating<br />
your real estate investment business. Even if you hire outside management,<br />
you need to know what's happening financially on your property. Having<br />
good accounting will help you determine if you are making money, when to<br />
sell, and where the problems exist. An investment property with poor records<br />
is an investment property with problems. Be very wary of buying properties<br />
where they cannot provide accurate and up to date financials.<br />
Having a quality team is essential to your real estate investing<br />
success. Knowing where to go when questions arise will make your life easier<br />
and help you make more money. They will also help you avoid costly<br />
mistakes. Many flippers and rental property owners want to do work<br />
themselves to save money. The problem is, unless you're a contractor, it may<br />
cost you more money to do the work yourself. It takes longer, the work isn't<br />
done well and it's stressful learning and working on houses in your spare<br />
time. Now, start building your expert real estate investment team. Investing<br />
in real estate is a whole lot less stressful and more profitable with a good<br />
team. Resist the long ranger mindset at all costs, it’ll increase your bank<br />
account balance in the end.<br />
28<br />
10 Costly Mistakes to Avoid as a New Real Estate Investor
Change language