The importance of thoroughly performing due diligence cannot be overstated. I would know! I had to learn the hard way. This is a story about skipping inspections and underestimating the cost of repairs, and how it can throw your whole investment off course. Learn from my mistakes so you won’t have to make them, too!
Do you have a process to dive deep into real estate data in order to track down property owners? Most investors won’t push past initial barriers. They will simply move on to the next deal. But when the market is hot, good deals can be scarce. That means those more difficult to locate might just be the best out there.
Gratitude is not only an admirable characteristic, studies have shown it can make you more successful in every area of your life. Individuals who regularly practice gratitude find themselves happier, wealthier, and healthier—in addition to experiencing a host of other positive effects.
Have you encountered online businesses offering to form an LLC for you at an extremely discounted price? Tons of sites peddle extremely cheap (or even free) articles of incorporation or other LLC-pertinent documents. However, buyer beware! These offerings are usually too good to be true. Here’s why.
Experience has led me to believe that the majority of turnkey companies out there are putting a ton of pressure on the investors that reach out to them to buy a property. If this is happening to you, run the other way—fast.
If you’re investing in real estate, you’re going to be filling out and receiving dozens of real estate documents. Keeping these documents safe, available, and organized is imperative if you want to continue making good investment decisions and ensure that your legal ownership and legal rights are protected.