Advise You Wish You Had/ Biggest Mistake on First Deal

1 Reply

Hello,

I am trying to start my real estate portfolio. I plan to start with a small buy & hold. What advice do you wish you had starting out/ what was your biggest mistake in the beginning? 

Thanks

Great question.  I'm starting out myself.  From what I've read and think I understand, the biggest mistake seems to be not accounting for all the possible expenses.  Seems like the calculators on BP includes anything that could be missed, so if you stick to using those, you should be OK on that front.

I'm trying to gauge how to move from Deal #1 to Deal #2 to #3, etc..  If I keep tieing up money in the first deal, what's the best strategy to get money for the next deal.