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Updated about 15 years ago on . Most recent reply

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Matthew Paetz
  • Real Estate Investor
  • Los Angeles, CA
8
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123
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If you knew then what you know now...

Matthew Paetz
  • Real Estate Investor
  • Los Angeles, CA
Posted

What are some of the things that you have learned along the way that you wish you had known when you started?

My goal is for this to help many not just myself.

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Don Konipol
#3 All Forums Contributor
  • Lender
  • The Woodlands, TX
9,356
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5,987
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Don Konipol
#3 All Forums Contributor
  • Lender
  • The Woodlands, TX
Replied

In todays economy knowledge and experience are much more important then money. When I hear investors complain about how hard it is to obtain financing I usually read between the lines and find that the investors are either unknowledgeable in the specific type of investment they are trying to finance or inexperienced in real estate investing or in investing in the specific type of property they are requesting financing for.
It always amazes me when inexperienced investors, who have never purchased or rehabbed a property, and have bad credit, are shocked that they are having trouble financing their usually poor or mediocre deal. No one would think of applying to a bank to finance a medical office unless they had a medical degree and experience as a MD, yet everyone who wastes a couple thousand dollars on a newbie course thinks they are ready to be a professional real estate investor - with someone else's money of course.

  • Don Konipol
business profile image
Private Mortgage Financing Partners, LLC

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