real estate mistakes

Common Real Estate Investment Mistakes and How to Avoid Them

Avoid Investing Mistakes & Secure Your Retirement Riches
There are a lot of people I work with who are looking to secure their retirement years, and to create wealth for a comfortable and prosperous future. Over the decades of helping people create their retirement riches, I have noticed people making some of the same investing mistakes over and over again. The result can be an investment that does not increase in value, money spent in repairs, problems with a tenant, and other headaches.

Where and what to invest in.

One of the common mistakes people make is to choose to invest where or close to where they live, simply because they are comfortable with the idea of this. However, the valuations may not make sense. Buying expensive property or older homes doesn’t make sense even if the properties are close to where you are. If property prices don’t appreciate and you don’t get good rental incomes, your investment does not make sense.
Another common mistake that people make is to decide to go solo after they’ve bought property. They forgo the services of a property manager; probably to save a bit of money, because they imagine that they can manage their property by themselves from a distance. This is brave! In fact it is foolhardy! In all my years as a real estate investor, I have not been that brave myself. There are so many little details and issues that get taken care of with a property manager that it makes no sense to not use their services. You’re not saving money – just buying yourself an additional headache! In my latest podcast I speak about these and some more of the most common real estate investment mistakes that people make.

How ICGRE makes investing easy.

At ICG Real Estate there is a lot that gets taken care of for you. You don’t have to go looking for a broker and you don’t have to make the mistake of hiring someone you don’t know off the internet. You have some bargaining power with the developer and you can get a better deal than you would if you decided to fly solo as an investor. The reason is that ICG gives you clout. It gives you the collective clout that you would otherwise not have. And it costs you nothing extra – so why would any sensible investor deny themselves the advantage that working with ICG brings?!
In my book Remote Control Retirement Riches: How to Change Your Future with Rental Homes this is exactly what I speak about. I explain why I recommend investing in brand new single family homes, the benefits of hands-off rental management, tax benefits, how to build a potentially multi-million-dollar rental home portfolio, and more. You learn how to manage your investments in times of boom as well as bust, and how to safeguard your investments through it all.
Watch my latest video to know about the most common real estate investment mistakes. Learn from the mistakes of others so that you can avoid repeating them. 

How to Avoid Making Common Investment Mistakes That Could Cost You Big

Real Estate Investments – When to Do Something and When to Do Nothing
If you’re someone who wants to secure their future, especially the retirement years, let me tell you two simple facts: there is a time to do something and there is a time to do absolutely nothing! This is what I have learned over the decades since I first facilitated real estate investments in Las Vegas for a group of Silicon Valley engineers back in 1983. There are some mistakes one simply cannot afford to make in real estate investments, and yet those are the mistakes I see repeated most often. Find out what they are.

Where to buy.

This is one of the widely believed myths in real estate: that you have to be close to the property you’re buying. There is somehow this misconception that landlords have to be within easy driving distance of the properties they invest in. Somehow investors feel – mistakenly – that they will have to be at the beck and call of their renters for every leaky faucet and broken door hinge. So many Silicon Valley investors, for instance, will insist upon buying, say in Sacramento, even though cheaper properties with better future returns are available elsewhere in the country.
So, the number one mistake that people make – and which you as an investor should avoid – is to insist on buying close to where they are. Let me tell you – a big proportion of my investors actually live overseas! They aren’t even in the country! Why worry about finding renters, and managing the upkeep and repairs of your investment when there are experienced, well-equipped professionals to do this for you?

When to do nothing and when to do something.

Once you’ve bought the house and have your renters in place, this is when you do nothing! When you have experienced professionals and a well-connected network of developers, realtors, property managers and lending sources to assist you, why would you want to exert yourself and risk making expensive mistakes? Masterly inactivity! That is the only thing required of you. 
So when do you have to do something? Well this is something that I will explain in this short video where I speak about another common real estate investment mistake that so many people make. I share one of my common experiences of two friends who approach me for their investment needs – one takes the right action at the right time and the other doesn’t. Ten years down the line, the two end up in very different places, financially speaking. 
Listen in – this may be the most lucrative five minutes you spend all day!