No doubt about it, real estate investing is one of the most exciting arenas  in the business world.  In fact, most people consider real estate to be one of the best ways to become a millionaire because so many people with huge fortunes generated part or all those fortunes in real estate.

However, even if you have had some serious real estate investing success, this does not make you immune to failure.  Just look at the successes and failures of entrepreneurs like Donald Trump, who has risen, fallen, and risen again, thanks to good and bad real estate investing decisions.

One of the best ways to avoid the failing part of this equation is to learn from others’ mistakes.  Check out these mistakes that even experienced investors make, and keep an eye out for them when you are working on your own deals.

Real Estate Investing Mistake # 1:  Underestimating the Estimates

Many seasoned investors say they actually double the cost of every work and repair estimate when they are deciding whether or not to do the deal.  If they can’t make money on the property when the costs are doubled, then they don’t do the deal.  If you underestimate the time and money it will take to get a property in sell-able condition, you nearly always lose.

Real Estate Investing Mistake # 2:  Only Having One Exit Strategy

If you buy a property, you need a predetermined idea/plan of what you want to do with it.  However, you also need at least two other ideas about what you will do with it if your plans fail.  Otherwise, you can end up stuck with a lot of “dead” deals.

Real Estate Investing Mistake # 3:  Only Doing One Deal at a Time

Only doing one deal at a time can create several problems.  First, if the deal falls through you have nothing else in the pipeline, which creates a time lapse that can cost you money.  Secondly, only doing one deal at a time often means you will put too much into making a deal work that really is not a very good opportunity.

Larry Holder has been successfully investing in real estate for over 25 years.  He has done millions in real estate and owns and controls several million dollars in prime investment property today.

If you are interested in talking to Larry Holder about his private real estate training, coaching, and mentoring program please respond to this email with your full name and all your contact information.

Respectfully,

Larry