BiggerPockets Real Estate Podcast

10 Things We Hate About Real Estate Investing

4 snips
Nov 1, 2024
Guest
Henry Washington
Henry Washington, a savvy real estate investor and author, shares candid insights about the less glamorous side of real estate investing. He emphasizes that aspiring investors don't need to become agents first, and highlights the importance of effective communication, especially with contractors. The conversation also tackles the pitfalls of virtual staging and the need for honesty in property listings. Moreover, they offer actionable tips for new investors to avoid stress and financial headaches, advocating for realistic goal-setting in the often chaotic world of real estate.
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ADVICE

Licensing Advice

  • Don't get a real estate license before your first deal.
  • Focus on learning by doing a deal first, then decide if a license is beneficial.
ADVICE

Alternative to Licensing

  • Leverage an agent for MLS access and fiduciary responsibilities.
  • Consider a license if it aligns with specific lead generation strategies like referrals.
ADVICE

Team Communication

  • Prioritize communication skills when building a real estate team.
  • Set clear communication expectations upfront and pay more for good communicators.
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