Best Pieces of Real Estate Advice Received

123 Replies

I’m interested in hearing everyone’s best piece of real estate advice they ever received. I’ll start: “Speak softly, and carry a big portfolio!”

My Mom, called me one time and said that the S & L she worked for just forclosed on a house and she thought I should buy it. It was the first investment property I ever owned. Now the wife and I own(or the bank owns) over 100.

I had never even though about owning rental property. I was an accountant, with a nice easy career.

@Garrett Hawk

" have less scruple in offending one who is beloved than one who is feared, for love is preserved by the link of obligation which, owing to the baseness of men, is broken at every opportunity for their advantage; but fear preserves you by a dread of punishment which never fails."

@Garrett Hawk I don't remember the exact words, but this was spoken to the effect of: Success can be linked to one's tolerance to risk and discomfort. Can you be comfortably uncomfortable? - great mental challenge! Not real estate specific but definitely applicable.  Cheers!

Jake Maxey

Love that one!

Originally posted by @Linda D.:

@Garrett Hawk

"Look at dollars, not dimes" --- in reference to spending money/paying fees to grow

Originally posted by @Alan Feldman :
@Austin Fruechting after listening to the latest podcast that's what I started writing down. What's my Why?

 From top to bottom you need to know why you do everything from the "BIG WHY" to why you are choosing the investment you are choosing over other options, why you are using x% for repairs on this property and y% for a different one, etc etc etc. Know why you do everything you do. 

Courage is being scared to death .. but saddling up anyway -John Wayne —————— Being an entrepreneur and starting up a business is like divIng off a cliff and building an airplane on the way down . ——————— The Best time to buy real estate is Now The Best Time to sell real estate is never