The Cardone Zone Pitfalls to Avoid
Jan 28, 2020
Discover the top 10 pitfalls to avoid when navigating the real estate market. Learn how to assess property size effectively and prioritize cash flow for stress-free investments. Dive into the critical aspects of debt management and the impact of location on success. Explore the importance of thoroughly evaluating maintenance issues and property management. Gain insights into risk evaluation and the necessity of continuous education to make informed real estate decisions. Avoid common traps to maximize your investment potential!
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Avoid Too Small Deals
- Avoid buying too small in real estate to ensure sufficient cash flow and minimize worry.
- Invest in properties with multiple units for better cash flow and stability.
Scrutinize Profit & Loss Statements
- Verify the profit and loss statement from the seller thoroughly before trusting the numbers.
- Be aware that P&L statements can be inaccurate or misleading, affecting your investment decision.
Check Deferred Maintenance Thoroughly
- Assess the property's deferred maintenance costs beyond cosmetic fixes like paint.
- Investigate roofs, HVAC, flooring, and other key systems that may require costly repairs soon.