5 Common Mistakes Real Estate Investors Must Avoid

Common Mistakes That Real Estate Investors Make

1. Failing to Make a Solid Plan Many real estate investors put their money on properties without having proper plans 

They lack knowledge

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They don’t create an investment team

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They don’t know their needs

2. Not Doing Adequate Research and Analysis Real estate investors may overlook several factors when they’re excited to purchase a property. Factors they neglect are: 

Neighborhood statistics

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Geographic information

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Issues with the property

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3. Local Laws and Paperwork

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Not knowing local laws can be a significant setback as the investor may end up paying fines for breaking laws

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Skipping paperwork will obscure your new responsibilities

4. Underestimating Expenses Apart from the mortgage payments, a real estate investor has to deal with other expenses, including:

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Home maintenance

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Insurance

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Taxes

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Upgrades

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Standard upkeep

5. Making Unnecessary Upgrades and Improvements

Although remodeling and improvements are essential for house flipping, real estate investors must handle them carefully while spending their money. Making unnecessary repairs will eat away at your returns

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