Home buyer’s remorse, low interest rate dreams, and not taking a second look at a property. These are some touchy subjects for real estate investors who had wins but also big losses in 2022. While real estate investing is one of the best ways to grow generational wealth, it still has its home-induced headaches, either from going over budget on a project, waiting too long to buy, or doing the wrong rehab. But don’t get down if you made any of these mistakes. Our expert investors have done the same!
Welcome back to On the Market. In today’s show, Dave, Henry, James, and Kathy, talk about the biggest real estate regrets and mistakes made in 2022. This show proves that even if you’re experienced, you can still fall prey to making mistakes and losing hundreds of thousands of dollars doing the wrong deals. But this isn’t all doom and gloom. The cast shares lessons learned from these big mistakes so listeners like you can avoid these money-hemorrhaging life lessons the next time they pop up in your life.
We also talk about some of the biggest mistakes across the news in 2022. These span from the FTX crash and SBF’s fall from grace, the crypto slump of this year and last, and why so many buyers were caught off guard by the almost unprecedented interest rate hikes of earlier this year. Tune into this episode, and stick around for next week’s as we give a glimpse at what we’ll be doing to build even more wealth in 2023!
In This Episode We Cover
Knowing your numbers and how going over budget on a renovation is easier than most people think
Interest rate nostalgia and why locking down a low rate beats a better home price
Permitting hold-ups and how avoiding a site visit could cost you hundreds of thousands
The FTX crash and crypto’s demise over the past two years (and what caused it)
2023 mortgage rate predictions and whether or not we’ll see four percent rates within the next year
Why every great real estate investor has a bad contractor story
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave’s BiggerPockets Profile
Dave’s Instagram
Henry's BiggerPockets Profile
James' BiggerPockets Profile
Kathy's BiggerPockets Profile
Henry's Instagram
James' Instagram
Kathy's Instagram
How to Deal With Regret in Real Estate
Biggest Red Flags of a Bad Contractor
Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-60
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