Share your Failure stories?

[Tom R.]

Reading success stories is great but I think that sometimes you can learn more from failure than from success. If you are willing I would like to hear your failure stories. Please share what happened and why you think it failed? 

[Brian Ploszay]

I've bought more than a hundred properties, so I have learned a lot.  You learn from your failures.

Here are a few:

1.  Not carefully securing a vacant property.  It was broken into.

2.  Letting in a tenant because she was a friend of a good tenant.  No correlation.  Fully check their background.

3.  Not getting a professional inspector on a property.  I overlooked a few things.  

4.  Not buying more properties years ago when they were cheaper...