On The Market 128: The Worst Real Estate Investing Advice of 2023
Real estate investing advice is everywhere, especially from people who don’t invest. You’ve seen the financial influencers screaming, “Don’t buy!” or “Wait for the crash!” often while doing a little dance or pointing to some cherry-picked statistics. While this amateur advice rarely gets considered by investing experts, those who are just getting started are susceptible to following this dumpster fire of investing guidance and will end up losing money as a result. But don’t worry; we’ve brought the antidote to this horrible advice.
We got the entire On the Market panel together to give their favorite pieces of lousy investing advice and what to do instead so you can ACTUALLY build wealth. From waiting for the crash to only buying foreclosures to purchasing a property way over your budget, this real estate investing advice is some of the worst, if not most hilarious, we’ve seen in a long time. And with the economy on the edge of a recession, now is NOT the time to take money tips from twenty-two-year-olds on the internet.
For every piece of bad advice we get, we’ll give you our personal, time-tested advice on what we’d do in today’s housing market. Some of this expert advice may shock you since it goes against what everyday investors have been told. But, if you follow it, you could be building wealth like our multi-millionaire guests!
In This Episode We Cover:
The one “risky” real estate strategy that has made our guests millions
Who should (and definitely shouldn’t) become a real estate agent
“Buying the dip” and why getting in at the bottom isn’t always a bright idea
Discounted deals vs. buying at retail value and which markets require which strategy
The dangerous bet you’re making when buying during high mortgage rates
Investing in new construction homes and the one scenario where you MUST avoid doing so
And So Much More!
Links from the Show
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
Book Mentioned in the Show
How to Wholesale Real Estate by Jamil Damji
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-128
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