Bypass the Midwest and South, this model needs high priced land, tough zoning and high-priced rental rates.Calculate your Cost of Failure, once you have your plan. 

This wasn’t a failure (if it is a failure) because of purchasing at the top; the economy crashed; pandemic closing everything down; or a massive failure of the financial system.  

I'm excited for you as you get started because I know this business can lead to so many opportunities.I was only half-joking when I said "Don't do it"... failure rate is extremely high (80-90% drop out within 5 years) in this business. 

My lease also allows me to fine tenants for dog poo and unpaid fines are paid before rent so failure to pay fines can result in an eviction for non-payment of rent.

I was the point of failure, but I would definitely not recommend anyone who had a hand in this deal.

I was the point of failure, but I would definitely not recommend anyone who had a hand in this deal.

It's one thing to learn from your own mistakes, but it's another to see the patterns of success and failure across so many different deals and markets.I'm sure the community would love to hear more about some of those common pitfalls you've noticed.

Attend local real estate events and connect with experienced investors to learn from their successes and failures.

In my early days I relied heavily on home warranties to cover HVAC and appliance failure. 

He is currently blaming his investors for their failures and actually soliciting an additional $20,000 from all IC members to help sue the SEC and, ironically, his investors who's money he has stolen.