What are the main things that should be avoided when investing?
This is a good question, and one that more investors should probably ask. This is also a question with many answers depending on what type of real estate investment you are considering. I work with smaller multi-family properties, and here are some of the pieces of advice I can give:
1. Don’t go it alone. As much as you can, try to leverage the experience and knowledge of others. I’ve been doing this for decades, and I still call others for advice on various items weekly.
2. Don’t rush into anything. It is easy to get into an opportunity, and hard to get out. Make sure you understand all of the factors of an investment before you commit.
3. Don’t pursue real estate investing just to invest. If you can’t find a real estate investing niche that excites you, maybe it’s not the right thing for you. At the same time, don’t shy away just because something looks hard.
I think I’ve said enough from my point of view. What do others have to say on this?
Chelizno- What type of real estate investing are you looking to do? There are plenty of things you should avoid, but they vary with the investment.
Thank you heather. That was great info!! Tom I was just trying to get the info out there!
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