Newbies should not be buying properties.
Investors who are new to the world of real estate investing IMMEDIATELY look for passive income.
They join real estate communities that teach Creative Finance or the BRRRR strategy-
And that’s their mistake.
Most new investors spent their last dime to get into these mentorships.
There is no money left to ACTUALLY invest in a property.
Then people quit their dream of real estate investing altogether.
If you want to make money in real estate you focus on the active income first.
When I stopped chasing my first subject to deal and started loan brokering I hit my first $10K month.
If you made an additional $10,000 a month or even $3,000 how much more likely is it to strive for the passive income, for the portfolio to start building?
Let me know in the comments if I’m just a pessimist or if new investors should spend all their money on buying assets before making money.
Most Popular Reply
@Jada Thoele I agree completely!
Buying properties is relatively easy. Having the resources, skills and systems to hold onto those properties when tough times hit is what separates newbies from pros.
And that's one lesson I learned the hard way...
In my book, becoming a complete real estate investor requires surviving one full economic cycle.