BiggerPockets Podcast 303: Ouch! Brandon & David’s 10 Biggest Investing Mistakes (& How to Avoid Them)

by | BiggerPockets.com

Are you a little tired of hearing about all the “successes” of real estate investors and wondering how realistic this is in the real world? Well, on today’s show, Brandon and David share the 10 biggest mistakes they’ve made in their investing careers—warts and all!

Let’s be honest—real estate isn’t all sunshine and rainbows. Mistakes happen! In this episode, we cover WHY investors often sabotage their own success and what can be done to overcome this! You’ll learn how to avoid massaging your numbers to force a bad deal through, how to guard against getting ripped off by contractors, how to hire the RIGHT team members to help you succeed, and how to fire the wrong ones!

We also cover the high cost of analysis paralysis and how to move past it, how to choose the right market for yourself, and the mistake that cost David $5,000—simply because he didn’t understand how inspection periods work in different states. If you want to see the real story behind real estate investing, including the stuff that often isn’t talked about, don’t miss your chance for some authentic, honest transparency from two experienced investors!

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In This Episode We Cover:

  • A discussion on waiting to start investing because you don’t feel you can do it yet
  • The pros and cons of doing everything yourself
  • The danger of working with the wrong people
  • Stories of buying the wrong deal
  • How to avoid not managing people correctly
  • What can happen when you underestimate rehab costs
  • Why you shouldn’t put too much down on a property
  • The pitfalls of not doing enough market research
  • Avoiding investing because your state is too expensive
  • Not rehabbing correctly
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Fire Round Questions

Tweetable Topics:

  • “Thinking small is more expensive than failing big.” (Tweet This!)
  • “Find an investor-friendly agent.” (Tweet This!)
  • “Calculators don’t have egos.” (Tweet This!)
  • “The wise investor understands equity equals safety.” (Tweet This!)
  • “Define what you want and work for it until you get it.” (Tweet This!)

Connect with Brandon and David

About Author

Thanks for checking out the BiggerPockets Real Estate Investing & Wealth Building Podcast. Hosts Joshua Dorkin & Brandon Turner strive to bring top-notch educational content and interviews to our listeners — without the non-stop pitch prevalent around the industry.

With over 180,000 listeners per show, the BiggerPockets Podcast has become the biggest real estate podcast in the world. But don’t take our word for it. We’re the top-rated and reviewed real estate show on iTunes — check it out, read the reviews on iTunes, and get busy listening and learning!

4 Comments

  1. Julie Marquez

    Fun podcast to listen to! But some of these sounded like regrets and something you could only look back and say in hindsight. They really might not have been mistakes at the time. And they are all very personal to each persons goals. You say they were past mistakes based on your new goals you have now. If Brandon really wanted to be a DIY landlord, that toilet issue would have been a great learning experience, not a mistake. But now that Brandon has different goals in life, he can say that was a mistake.

    • Brandon Turner

      That’s a really good point Julie! But I’d still say lifting the toilet was a mistake for anyone, hahaha! 😉 but seriously – yah, mistakes can turn to lessons and, in fact, I don’t really regret anything, even the toilet wrestling match. Cause it all got me to where I am!

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