Hi, I am Ann. These are the top eight mistakes that real state investors make. First, to assume rather than educate. You need to learn the rules, learn the market find out as much as you can about investing.
Second, you need to stay in budget. The mistake is that many people over extend as soon as possible.
The third mistake is following the herd. It is nice to know what other people are doing in the area and in the market. But do not assume that because they are doing it their way that it is the only way. See what does work and then go for it, do not be afraid to go ahead and use your own ideas.
Four, not identifying strategies that work. Do not get caught up in the minutia of the ideas that others have or that you have. Be very clear about identifying strategies.
Number five is not making the correct commitment of time, you are going to need a lot of time to ask questions, to consult professionals and make sure that you take time everyday and indeed do a summary at the end of the week.
Number six is not listening to professionals that you have around you, seek them out. Real state agents, accountant, lawyers will all give you the information that you need. Talk to mortgage professionals, talk to banks, talk to tenants, talk to landlords, talk to everyone that you could possibly can and learn what you can.
The seventh mistake of course is expecting to get rich quickly, not going to happen. Indeed, you are going to have to do an enormous amount of work. But the rewards can be terrific.
The eighth mistake is not communicating and not just communicating what you want and what you need but also, not being able to hear what others are trying to tell you. So, keep your ears open and investing could be for you.
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