Mistakes While Investing

Another mistake investors make is not realizing the amount of time involved in flipping properties.

I estimate about 1 month of time for every $10,000 in repairs but this may not be enough. You should be prepared for time.

Investors may look at a house and not act. Why? They continue to think and look and count numbers. This is often called analysis paralysis. Do not become caught up in this. It will paralyze you from succeeding at real estate.

Many Investors will also trust what the sellers sais. This could be a grave mistake no matter how friendly the seller seems. The seller is working for one person - themselves. Keep this in mind and always look for your own information.

Important to do your homework/research.

Good list/points, Coach Jensen. Thank you.
This one is the opposite of the "Afraid to Act". While there has to be a happy medium, you CAN'T succeed without taking a risk. DO the best you can with what you know, but learn how to use due diligence (doing your homework/research). You're sure to grow! Sometimes you HAVE to learn from mistakes. Just try to learn as much as you can from someone ELSE'S mistakes instead of your own. It's cheaper. .

Rina

There is a line between analysis paralysis and too much risk. You just need to find the medium for you. The most common stopper for investors is analysis paralysis. Keep yourself safe but don't over analyze.

Many investors will also get into an excuse mode. They will find one item they are not sure about in a property and will use this not to invest. This could be as simple as finding a Realtor. They may not know how to find a good realtor and subsequently give up investing.

How to get around this:
Create goals. Make the goals real. Take a leap of faith in the support team around you and in yourself.