Updated over 14 years ago on . Most recent reply
Your biggest mistake as a new investor
Thanks to everyone for sharing their insight and advice. I'm a new investor and this site is of great help to me. I've read a lot about success stories...I was wondering if anyone would like to share the mistakes they made and what they learned from them? I'm not so much interested in generic issues but I'd really like to hear about specific issues.
Thanks
Most Popular Reply
#1 Buying a rental in a bad area. I rationalized to myself: "but look at the cash flow."
#2 Underestimating rehab time and cost on an older home.
#3 Not properly screening and qualifying tenants.