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  • how you will lose money in real estate.

  • You see, that's a sophisticated investor.

  • We don't just want to focus on how much money we could make from a bruised a deal before we even invest a single dollar.

  • The first thing that we should ask ourselves is, what is the downside?

  • How much money could I afford to lose?

  • So today I want to share a few lessons with you over the years that I've learned when it comes to investing.

  • So hopefully you don't have to make the same mistake that I have made, and these are very, very costly mistakes.

  • In fact, let me ask you a simple question.

  • If you are an investor, how much money you would still have if you didn't make those bad deals?

  • If you didn't make those bad investments and doesn't have to be a real state common below, let me know.

  • How much more money would you have?

  • How much richer would you be if you didn't make those bad investments?

  • Nothing.

  • That number would be shocking to you and to a lot of people.

  • Real estate investing, mistake number one, and that is to be emotionally attached to the property.

  • You should be excited about the deal.

  • You get excited about the opportunity, the numbers, but shouldn't be excited about the property.

  • You see, a lot of times I could see investor, especially amateur investor.

  • When they are looking at a property, they are thinking that there's gonna be a house that you're gonna be living while this is investment property.

  • This is not your primary residence.

  • Assuming we're talking about your first or second investment property, right?

  • So forget about Oh, but my wife won't let the kitchen or, you know, my kids won't like the backyard.

  • They're not gonna be living there.

  • This is an investment, right?

  • So don't get attached to death.

  • Particular deal.

  • The number has to make sense.

  • The neighborhood has to make sense.

  • The market has to make sense.

  • The timing has to make sense, right?

  • The motivated seller has to be there.

  • You have to think of it that way.

  • It is an investment.

  • One of the best way you could look at it is this is a product, right?

  • You're investing an investment product.

  • A product that you investing in So you're not attached?

  • This is not your home.

  • This is an investment property so far.

  • Love with the deal if the dew is good, but don't fall in love with the property.

  • And if the deal doesn't work or the cell is not super motivated, what do you do?

  • Nick's looking another product, and you look at another to you Look in and out a deal.

  • You have to look at a lot of deals to find one good one.

  • How do the rich get rich and stay rich?

  • What do they really invested?

  • Discover North America's best kept investment secrets.

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  • Event dot com.

  • Click the link in the description which ties to mistake number 21 of the very common mistakes I see investors make, including myself, is we want to get a deal done.

  • So we look at a few deals and suddenly hey, I'm looking in the 10th 1 It's already way better then the first or 2nd 1 Okay, I'm ready to go, right.

  • Let me put down my money.

  • Let me make the offer.

  • Be very, very careful on average, knowing that you probably have to look at about 100 deals.

  • Ah, 100 deals, right?

  • It might take you a few months.

  • And my take your six months Look at 100 deals you might think of 10 that Ethan is even remotely interesting.

  • Out of the 10 you might make offers on 45 or three.

  • And then you might close one or maybe even more than 100.

  • That's the average.

  • So if you've on Lee looked at 235 deals and already make an offer, you kind of want to Yes.

  • I want to get my money into the deal.

  • Don't do that.

  • Because every single deal that you look at unit gets modern.

  • You know, there'll be more about the market, right?

  • You're looking at all these deals is getting educated.

  • I will rather you wait and do a great deal versus you rush into and do an average deal because once you're in, you're in it for a while unless you want to flip the property in a short of time.

  • In this case, I'm talking about buying whole strategy.

  • You're gonna hold on that sucker of a long time that investment property so better to buy it right Makes sense.

  • Mystic number three, betting on appreciation.

  • Now we all want to buy property and we wanna wait and it goes something value and that's nice.

  • But most of the time, not 100% of the time.

  • Most of the time, if we are investing for cash flow, we're not gonna invest in a property that doesn't produce positive cash flow.

  • Meaning the Monday I collect from Lieutenant more than covers my mortgage payment and all the other overhead expenses with some money left, right, a positive cash flow, right free cash flow on a monthly basis that you could put in the pocket.

  • It is negative cash flow, meaning your the rental income that you collect is not even enough to cover your mortgage payment.

  • That's negative cash flow.

  • We usually do not touch properties like that.

  • This is saying in real estate we make money when we buy, not when we sell.

  • What that means is the number the deal the financial has to make since day one.

  • Right?

  • That cash flow has to be there.

  • He has to make sense.

  • We're not counting on appreciation, right?

  • That's a bonus.

  • If we get that, If we bite it, right?

  • The right timing, the right location.

  • Naturally, chances are you will get appreciation over time, but we're not counting on the exit, right?

  • We're not counting on that.

  • We're counting on day one.

  • He has to make sense because a lot of times investors to get excited, right?

  • They get greedy and said, You know what?

  • I'm gonna buy this, and I'm gonna flip this within a very short period of time.

  • Maybe you're able to do that.

  • If that's your strategy, your flipper, that's probably fine.

  • But knowing that you're taking a risk.

  • And what if you could not find a buyer?

  • What if you have to hold on to that piece of property for longer than you want to?

  • Then what do you do?

  • So be very, very careful.

  • Don't count on that.

  • You get that appreciation.

  • That's a bonus.

  • But there are other things that you have to consider.

  • Maybe also buying this piece of property where you can actually add value to it, meaning that you could do things to the property to increase the value off the property.

  • So those are very, very simple, simple things, simple mistakes that you could afford to make sure that you don't make those mistakes as you're getting into real estate investing.

  • By the way, if you are watching my video for the first time and you want to ask me more questions on real state, because that's what this channel is about, I want to share with you everything that I do in my business, in my life, in my investment world, what I'd invest in, how invest everything that I know.

  • I share my knowledge, and my skill sets through social media and through my channel.

  • But I cannot help you and cannot answer your questions if you don't let me know what you need, so comment below.

  • If they're good questions, I'll be more than happy to answer them.

how you will lose money in real estate.

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你將如何在房地產中賠錢 (How You Will LOSE Money In Real Estate)

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    林宜悉 發佈於 2021 年 01 月 14 日
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