A common rookie mistake is jumping into real estate without having a plan for the type of business that’s being built.
Usually it ends up being because a friend or family member had a property that we got, made a few hundred a month and tried to do it again, seems reasonable right?
But it usually doesn’t work out like that. Something comes up, money is lost, headaches abundant..
The rookie mistake is avoidable, by having a plan.
- Know why you want to get into real estate. And ask yourself this 5-7 times, like we talked about yesterday (Hint; Usually it’s to have more free time, to choose what we do with our time.)
- Know your goals (maybe to cover monthly bills, then replace income) and how involved will you be? Active? Passive? Semi? beginning with the end in mind matters, Intent matters more.
- Identify which investment/ type or real estate could be the strategy to get you there
- And finally, with whatever you got going for ya – pick a strategy.
Joe DiAndrea 