274: “Because of These 3 Simple Rules, I’ve Bought Over 600 Units and Never Lost Money” with Paul Morris
BiggerPockets Real Estate Podcast
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The Three Rules of Real Estate Investing
Paul Saffo: I've told really smart amazing real estate investors and they're like, my gosh, how's that possible that you haven't lost any money in 25 years? And then when I tell them the three rules, they say well, of course, if you follow those three rules, right? Let me throw them at you. He says number one is buy where you know. The second rule is it has to cash flow. Rules two and three are about buying value add - bad houses in a good or better neighborhood. So he can still find deals in very expensive cities like Los Angeles. It doesn't mean you can't invest in another location.
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