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BiggerPockets Real Estate Podcast
970: 5 Mistakes to Avoid When You Start Investing in Real Estate
Jun 12, 2024
Real estate experts Dave Meyer and Rob Abasolo share the five biggest investing mistakes beginners make, including buying bad deals and analysis paralysis. They highlight the importance of accurate deal analysis, building reserves, and making sacrifices for successful real estate investing. Strategies for starting with limited funds and building a strong financial foundation are also discussed.
43:54
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Quick takeaways
- New investors often make the mistake of buying properties that are not financially sound or do not fit their investment goals.
- Breaking down large goals into smaller steps helps prevent analysis paralysis in decision-making.
Deep dives
Common Newbie Mistakes in Real Estate Investing
Buying the wrong deal is a frequent mistake for new investors, encompassing deals that lose money or not aligning with one's strategy. Analyzing deals incorrectly can lead to overestimating returns and underestimating costs. Don't let a lack of funds deter you as there are various ways to secure financing. Breaking down big goals into smaller actionable steps helps overcome analysis paralysis. Avoid getting trapped in negativity by seeking advice from successful investors.
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