Best Pieces of Real Estate Advice Received

Investor · Branson, MO · Member since 2016 · 101 posts · 146 votes

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!”

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Alex P.

Investor · Longview, WA · Member since 2015 · 94 posts · 176 votes

Don't wait to buy real estate, buy real estate and wait.

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Matt Millard
Lewisville, TX · Member since 2015 · 344 posts · 264 votes
8y
It’s not the quantity that matters it’s the quality! And due diligence for the latest deal is more important than the deal itself!
2 Reply
Brian Mullins
Investor · Nashville Tennessee · Member since 2017 · 10 posts · 24 votes
8y
Best advice I ever got as a brand new investor was to " stop talking and just go make some offers" , now we have over 60 properties! So there's saying and then there's doing. Luck takes action! Go get'em and don't ever look back!
7 Reply
Erik Sherburne
Investor · Saint Paul, MN · Member since 2015 · 98 posts · 64 votes
8y
Just do it.
2 Reply
Omar Khan
Rental Property Investor · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
8y
@Garrett Hawk
Don't confuse luck with skill.
3 Reply
Immanuel Sibero
Carrollton, TX · Member since 2015 · 415 posts · 371 votes
8y
The harder you work the luckier you get!
3 Reply
Immanuel Sibero
Carrollton, TX · Member since 2015 · 415 posts · 371 votes
8y
Two quickest ways to lose money in real estate:
- Overpay for a crappy property
- Overpay for an awesome property
7 Reply
Brent Bell
Scituate, MA · Member since 2018 · 5 posts · 1 vote
8y
Thank you to all the posters so far, here are my contributions (from others way more experienced then me)
"Know when to walk away - the numbers don't lie!"
"What you know is your greatest wealth. What you don't know is your greatest risk. There is always risk, so learn to manage risk instead of avoiding it"
As a risk adverse person, I am trying my best to practice this second quote. @George Pauley post about "next" definitely helps to put "risk" into perspective.
1 Reply
Tony Kim
Rental Property Investor · Los Angeles · Member since 2018 · 844 posts · 1k+ votes
8y
Sophisticated investors get 12% at least. Average range of stable returns are 12-20%...once you fall below that, you reposition/sell/refi.
This made me realize I was sitting on a boatload of equity which miniaturized my ROE.
Lane K. you're the man!
2 Reply
Jennifer J Bennett
Member since 2018 · 6 posts · 4 votes
8y
@Garrett Hawk best advice given....
"If you are the smartest one in the room, you are in the wrong room."
"ABC.... Always Be Closing"
"Some will, some won't, so.. what! NEXT!!"
"Failing forward"
"The door of OPPORTUNITY is knocking... OPEN IT!"
"Which one is worse? Never having an opportunity or having an opportunity and not taking it?"
2 Reply
Jennifer J Bennett
Member since 2018 · 6 posts · 4 votes
8y
Originally posted by @Jennifer J Bennett:

@Garrett Hawk best advice given....
"If you are the smartest one in the room, you are in the wrong room."
"ABC.... Always Be Closing"
"Some will, some won't, so.. what! NEXT!!"
"Failing forward"
"The door of OPPORTUNITY is knocking... OPEN IT!"
"Which one is worse? Never having an opportunity or having an opportunity and not taking it?"
"People don't care what you think until they know how much you care."
0 Reply
Chinmay J.
Investor · Northern, VA · Member since 2016 · 1k+ posts · 904 votes
8y
The more drunk some people get, the more sense they make.. Someone who is a good friend and once was a landlord of 50 units told me that being a landlord is always about finding the middle ground between being a pushover and an a$$hole. And then he added that he is just done being a nice guy.. Very profound... Sorry.. Don't have anything more eloquent for you that I found in a book or on podcast..
1 Reply
Darren Lenick
Flipper/Rehabber · Davie, FL · Member since 2016 · 101 posts · 136 votes
8y
Best piece of advice I ever heard regarding Real Estate: “Buy land, because they aren’t making any more of it.”
Of course I apply it to properties in general and not just land.
Best reasons I have for investing in Real Estate:
- Everyone needs a place to live
- Everyone deserves an affordable and clean place to live
- It’s hard to lose money on Real Estate if you play the long game and are not looking for a get-rich-quick scheme
- It allows me the freedom to spend my time as I chose. I see my kids all the time, I’m available to them whenever they need me and we can take vacations when WE chose
- If done smart, Real Estate can provide solid passive income and can setup your children’s future. Our plan includes providing each of our 4 children with an income stream so they can pursue THEIR future and solid foundation.
1 Reply
Ingrid B.
Salt Lake City, UT · Member since 2017 · 18 posts · 6 votes
8y
Time is your only ally. It will go by with or without your Real Estate investment.
1 Reply
Nate T.Pro Member
Investor · Tempe, AZ · Member since 2014 · 146 posts · 74 votes
8y
Originally posted by @Tony Kim:

Sophisticated investors get 12% at least. Average range of stable returns are 12-20%...once you fall below that, you reposition/sell/refi.
This made me realize I was sitting on a boatload of equity which miniaturized my ROE.
Lane K. you're the man!
Would you mind sharing some of the 12-20% activities you're involved in?
1 Reply
Kim George
Richardson, TX · Member since 2017 · 2 posts · 3 votes
8y
In order to get something youve never had you must do something youve never done...
3 Reply
Tony Kim
Rental Property Investor · Los Angeles · Member since 2018 · 844 posts · 1k+ votes
8y
Originally posted by @Nate T.:

Originally posted by @Tony Kim:
Sophisticated investors get 12% at least. Average range of stable returns are 12-20%...once you fall below that, you reposition/sell/refi.
This made me realize I was sitting on a boatload of equity which miniaturized my ROE.
Lane K. you're the man!
Would you mind sharing some of the 12-20% activities you're involved in?
A lot of the stuff I do are syndicated, privately issued securities...some via crowdfunding websites, some via going directly to the sponsor. However, 12-20% can easily be achieved by non-accredited investors as long as you set up your portfolio correctly (i.e., purchase at the right price and utilize the right amount of leverage).
1 Reply
Moises B.
Investor · Bronxville, NY · Member since 2017 · 114 posts · 48 votes
8y
Work backwards. Work Backwards and lastly Work backwards.
2 Reply
Chris R.
Rental Property Investor · Southern NH · Member since 2017 · 87 posts · 100 votes
8y
Start reading REI books until things start repeating themselves. Plan, hunt, make offers, buy well, repeat.
2 Reply
Dennis M.
Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
8y
Don’t wish it was easier .. wish you were better The only way things will change gor you is if you change ! Jim Rohn
1 Reply
Jim C.
Investor · IN · Member since 2012 · 263 posts · 168 votes
8y
Only buy rentals in areas where you would feel comfortable in having your mother live there....
1 Reply
Nick Despotidis
Investor · Los Angeles · Member since 2017 · 39 posts · 8 votes
8y
“Buy the biggest and baddest home you can afford. Then, rent it out as a young adult group home.” - my mentor
1 Reply
Erica Viverette
Rochester, NY · Member since 2017 · 8 posts · 0 votes
8y
@Arlan Potter How did you get started then gain momentum for buy and holds?
0 Reply
John Brown
Flowery Branch , GA · Member since 2017 · 14 posts · 3 votes
8y
@Garrett Hawk “Work willingly at whatever you do, as though you were working for the Lord rather than for people.” This changed how I viewed money and real estate and things haven’t been better since!
2 Reply
Ian IppolitoBusiness Member
Investor · Tampa, FL · Member since 2015 · 1k+ posts · 1k+ votes
8y
"A rising tide lifts all boats. You can't tell who's lucky and who's good, unless you watch what happens when the tide is receding."
The Real Estate Crowdfunding Review
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1 Reply
Chaz Mathias
Real Estate Agent · Santa Rosa, CA · Member since 2018 · 84 posts · 105 votes
8y
Don't invest with emotions
3 Reply

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