20 Real Estate Investment Mistakes Of 2013 and 20 New Year's Resolutions
For those looking to win in real estate in 2014 it can be incredibly beneficial to take stock of the mistakes other investors made, and to make new resolutions which will propel to success.
According to a recent thread on a popular online real estate forum in which investors laid out their top mistakes of the last year, here are twenty to avoid...
1. Not being tough enough on vendors and contractors
2. Not researching new areas and markets before investing
3. Failing to remember it isn't a done deal until the money is in the bank (and sometimes longer than that)
4. Not having a backup team to outsource work to
5. Not using your own title company
6. Placing deposits directly with sellers or their agents
7. Over improving properties
8. Trying to do too much
9. Failing to file eviction paperwork and notices promptly
10. Not beginning marketing early enough
11. Making too few offers
12. Not networking enough
13. Not firing people fast enough
14. Leaving tax valuations of properties uncontested
15. Not shopping around for insurance and other essential services
16. Not using experienced pros to help
17. Sacrificing long term goals for short sighted ones
18. Not knowing your exit strategy going in
19. Going against your gut
20. Leaving money on the table
Make your property investing more successful in 2014 by resolving to...
1. Continually build on property investment education in 2014
2. Be networking weekly online and offline
3. Try embrace wholesaling houses if not as a main strategy, to compliment what else you are doing
4. Commit to building a reserve fund
5. Develop a plan for ensuring business continuity
6. Stick to sound investment principles
7. Seek out and build relationships with great partners and vendors
8. Strive to serve more people
9. Look for ways to give back and pay it forward
10. Keep focused on long term goals
11. Always have a defined exit strategy before buying
12. Get faster at making offers
13. Make more offers
14. Look for ways to find additional spreads in deals
15. Be more efficient and work smarter
16. Always complete thorough due diligence
17. Have a tax plan for reducing tax liabilities
18. Hire great team members
19. Take time to enjoy the journey and the free time ทาวน์โฮมมือสอง ราคาถูก wholesaling houses can offer
20. Not to replicate the mistakes others have made