All Forum Posts by: Taylor Cartledge
Taylor Cartledge has started 7 posts and replied 26 times.
Post: My top 3 lessons learned after 1 year of real estate investing
- Real Estate Agent
- Augusta, GA
- Posts 27
- Votes 14
I have learned INFINITELY more by actually doing then by researching. It's easy to hear someone else say that you need to have a written contract (even with your closest friends) but think that these people wouldn't screw me... until they do.
Post: My top 3 lessons learned after 1 year of real estate investing
- Real Estate Agent
- Augusta, GA
- Posts 27
- Votes 14
Quote from @Scott E.:
I'll throw a handful of random lessons in the mix...
-Hard money is expensive
-Hire a designer, every time
-If you are selling, you must stage the home
-Luxury is where the big money is made
-It takes money to make money
-Inspect what you expect
-Never stop learning and listening
Thanks for throwing in your lessons. Those are all great and I can personally attest to a couple of them already.
Post: My top 3 lessons learned after 1 year of real estate investing
- Real Estate Agent
- Augusta, GA
- Posts 27
- Votes 14
Quote from @Ethan Gidcumb:
Great advice Taylor! My goal is to invest outside of my state so you mentioned the risk of contractors not meeting your expectations, I could definitely relate to that. How did you go about building a good team?
Honestly after my second deal I am still trying to find the contractor that works best with me. I may try and build my own team of subs and manage each of them instead of trying to find a good GC.
Post: My top 3 lessons learned after 1 year of real estate investing
- Real Estate Agent
- Augusta, GA
- Posts 27
- Votes 14
Quote from @Henry Clark:
Once you find good teammates stick with them. Don’t go penny perching. Stay with the same financial or lending source. That way you can cross collateralize your investments. Don’t chase percentage points. It’s really fun calling your banker saying you have another deal. And they say stop in tomorrow and sign papers.
Those are some great insights. I will definitely remember those!
Post: My top 3 lessons learned after 1 year of real estate investing
- Real Estate Agent
- Augusta, GA
- Posts 27
- Votes 14
Thanks for your reply and that is some excellent advice!
Post: My top 3 lessons learned after 1 year of real estate investing
- Real Estate Agent
- Augusta, GA
- Posts 27
- Votes 14
I am located in Augusta, Georgia and started investing in real estate one year ago. To this point, I have done two deals and even though I have listened to the BP podcast and try and take in as many resources as I can, sometimes we still learn by trial and error. These are my top 3 lessons learned so far:
1) Be careful who you partner with.
2) Make sure EVERYTHING is in writing. (Have contracts)
3) Bad contractors will ruin a great deal.
Even though I have made mistakes along the way, the lessons I have learned by experience are invaluable. The keys when starting out are TAKE ACTION and DON'T GIVE UP when problems inevitably come up.
I'm curious, what are some of your top lessons that you have learned?