Seasoned investors, what are your lessons learned?

Seasoned investors, what are your lessons learned?

Baltimore, MD · Member since 2019 · 80 posts · 47 votes

Hello all,

I am new to investing and am looking to diversify my efforts by wholesaling, implementing the BRRRR method and passing the Maryland Real Estate exam (April 2019). I would like to probe the seasoned investors by asking, what would you tell your novice investor self based on the lessons you have learned with your investment deals? I think this will be enlightening to all of starting out.

Thank you in advance!

LuAnn

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  • Specialist · Paradise Valley, AZ · Member since 2018 · 3k+ posts · 2k+ votes
    7y
    Originally posted by @LuAnn Leighton:

    Hello all,

    I am new to investing and am looking to diversify my efforts by wholesaling, implementing the BRRRR method and passing the Maryland Real Estate exam (April 2019). I would like to probe the seasoned investors by asking, what would you tell your novice investor self based on the lessons you have learned with your investment deals? I think this will be enlightening to all of starting out.

    Thank you in advance!

    LuAnn

     Congratulations for starting.

    Murphy was right. Anything that can go wrong, will go wrong.

  • Baltimore, MD · Member since 2019 · 80 posts · 47 votes
    7y

    Hi Mike,

    Thank you for sharing.  Any nuggets that you can share with a newbie like me?

    LuAnn

  • Baltimore, MD · Member since 2019 · 80 posts · 47 votes
    7y

    Hello everyone,

    Please share your lessons learned...don't be shy.

    LuAnn

  • Baltimore, MD · Member since 2019 · 80 posts · 47 votes
    7y

    Hello everyone,

    Please share your lessons learned...don't be shy.

    LuAnn

  • San Antonio, TX · Member since 2019 · 930 posts · 836 votes
    7y

    Haven’t done a lot of investing (2 rentals), but my lesson is don’t let a PM get away with poor communication.  It will cost you.

  • Baltimore, MD · Member since 2019 · 80 posts · 47 votes
    7y

    @Kris, how did you find your rentals? Did you use MLS, etc? Did you finance your rentals and if so did you use private lending? Can you share what you witnessed as poor communication? Thank you again for all of your feedback.

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