What advise would you give yourself if you started all over?

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What advise would you give yourself if you started all over?

David Lund
Columbia, MO · Member since 2022 · 122 posts · 66 votes

I would love to hear about your journeys and what, if anything, you would do differently!

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Taylor L.
Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
3y

- Commit to the daily process

- Speed of execution is far more important than perfection

- Focus & don't get distracted by shiny objects

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  • Taylor L.
    Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
    3y

    - Commit to the daily process

    - Speed of execution is far more important than perfection

    - Focus & don't get distracted by shiny objects

    4Reply
  • Theresa HarrisPro Member
    Member since 2019 · 15k+ posts · 11k+ votes
    3y

    Start sooner.  

    Don't bite off more than you can chew.

    I like Taylor's points about speed and focus.  You will never find the perfect property, but you will find properties where the numbers work.

    1Reply
  • Mike Dymski
    Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes
    3y

    go bigger faster

    1Reply
  • Eliott Elias
    Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
    3y

    Don’t try and do it all yourself, hire out what you’re not good at and out people in place that will help you expand. 

    1Reply
  • Henry ClarkPro Member
    Developer · Member since 2020 · 4k+ posts · 4k+ votes
    3y

    @David Lund

    Didn’t look at all your posts but looks like you haven’t made an investment yet. Recommend you Trailer hack.  

    Buy a trailer where the lot is included.  Value is in the lot.  Make sure you’re allowed to rent it. Check covenants.  

    Live in it.  Fix it up.  Try for 3/2 rooms.  Once fixed up then rent out other units.  

    Then do your next unit and rent your old room out.  

    Forget other people and their goals and mistakes.  You just need to start.  

    0Reply
  • Rick BassettBusiness Member
    Property Manager · Greater New Haven, CT · Member since 2010 · 377 posts · 434 votes
    3y

    Start earlier / younger 

    Learn about RE taxation 

    475-900-3100
    Bassett Property Management5108 Reviews
    WebsiteView Page
    1Reply
  • Joe S.Pro Member
    Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
    3y

    1.Treat others with more grace. 

    2. Correct my kids less and not make a big deal over small things.

    in all reality, going back in time machines has proven to be an exercise in imagination. There’s lots of things I would’ve done differently, but most of them are NOT real estate related.


    0Reply
  • Christopher BurgosBusiness Member
    Real Estate Agent · San Diego, CA · Member since 2020 · 22 posts · 13 votes
    3y

    Hey @David Lund,

    I would definitely say,

    -If you wait forever for the perfect time or opportunity, then you will be stuck waiting forever

    - Don't mistaken movement for progress

    - Be careful who you get into business with. You may not have to do everything alone but be sure your as certain of your partners as you are your spouse. Business can be messier than marriage

    1Reply
  • John M.
    Investor · Fairfax, VA · Member since 2015 · 1k+ posts · 801 votes
    3y

    Don’t Wait and hire a mortgage banker to shop your deals. 

    0Reply
  • John Acheson
    Renter · Las Vegas, NV · Member since 2018 · 278 posts · 71 votes
    3y

    NEVER EVER EVER do a FHA deal EITHER as buyer or seller!!

    0Reply
  • Karen Bickford
    Investor · Bolton, MA · Member since 2012 · 133 posts · 72 votes
    3y

    @David Lund Get as many doors as possible under one roof.

    1Reply
  • David Lund
    OP
    Columbia, MO · Member since 2022 · 122 posts · 66 votes
    3y
    Quote from @John Acheson:

    NEVER EVER EVER do a FHA deal EITHER as buyer or seller!!


    Why? 

    1Reply
  • Sarita ScherpereelBusiness Member
    Real Estate Agent · Chicago, IL · Member since 2018 · 659 posts · 376 votes
    3y

    Hire people faster! Finding the right people takes time and I wish I would have started sooner. 

    [email protected]773-456-4644
    Sarita Sells4.933 Reviews
    WebsiteView Page
    0Reply
  • Claude Diamond
    Professional · Rancho Santa Fe, CA · Member since 2015 · 49 posts · 39 votes
    3y

    I would have Focused  much more intently on the Art and Science of Sales. I wasted a great deal of time and money on busy work. Basically doing things that that did not produce Income immediately. Once I understood the art and science of persuasion everything changed for me. I only wish I learned it earlier and I got started when I was 26:-)

    0Reply
  • Claude Diamond
    Professional · Rancho Santa Fe, CA · Member since 2015 · 49 posts · 39 votes
    3y

    I still wonder why they don't teach Sales in Business School ?

    0Reply
  • Tyler Fontaine
    Property Manager · Member since 2022 · 196 posts · 125 votes
    3y

    Focus. Focus on the mission at hand. You can do anything you want to in life, but you cannot do everything.

    Go all in. Don't treat REI as a casual thing. Seriously pursue it. Commit to the going down that path and never look back.

    Set goals. Write down goals down and review them. Only choose from 3-5 of your most important goals. Make them this years mission. Break them down into chunks. Take small steps everyday towards the achievement of them.

    Look up the Power List in Ep. 16 from the RealAF Podcast with Andy Frisella. Implement this tool daily. 

    Get into a deal as fast as you can. Don't make a bad decision or anything, but you need to get a taste of the game. A piece of the action. Then just try to get another one.

    0Reply
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