This is my first post at this forum.
Forgive me if this question is an easy one to answer. Being a newbie, for me it’s a hard one to come up with the answers.
Before I consider investing in real estate, what are the big real estate investing mistakes to avoid at all costs?
Any great books or articles I should read? sites to visit?
Thank you for your support.
Rgds,
Steve (newbie)I think the biggest mistake is:
NOT ENOUGH DUE DILIGENCE
I guess that comprises a whole lot of issues.
– Build your foundation (reading and posting in this forum is a good start).
– Build your investment team (accountant, mortgage broker, valuer, building inspector, land broker, real estate agent?, surveyor?, property manager, trades people, etc.)
– Research your areas, properties, etc
– Check your properties carefully.
– Fall in love with the deal, not the property.Steve McKnight’s latest book (0-260 properties in 7 years) is probably a must. Besides that look for some of the below authors:
Margaret Lomas, Jan Somers, Neil Whittaker, Property Investor Magazine, Monique Wakelin, Neil Jenman, Terry Ryder, Robert Kiyosaki, Peter Spann, “Think and Grow Rich” by Napoleon Hill,
“Millionaire Next Door” by Stanley and Danko, “The Richest Man in Babylon” by George ClasonGood Luck
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