10 Mistakes I Made When Doing My First Deal (and How To Avoid Them)

Mistakes are inevitable, especially when we’re new to the investing game. What’s important is avoiding the mistakes that could cause our downfall before we start getting results.

 

Learning the fatal mistakes beforehand can make the process daunting and discouraging, but it’s necessary. By side-stepping a lot of the speed bumps, you actually get momentum faster.

 

What are some of the obvious mistakes we can avoid in investing, whether we’re new to the game or not? What are some of the challenges that come with investing? What are some of the common misconceptions newcomers have in the world of real estate investing?

 

In this episode, I talk about the mistakes I made in the 6 years it took me to do my first real estate deal, how you can avoid them and how you can use mistakes other investors made to learn and grow.

 

"How you spend your time is going to dictate how much money you’re going to make." -Tom Cafarella

 

Three Things You’ll Learn In This Episode

 

-Taking action is easier said than done

Taking action is hard and that’s why a lot of us stay stuck in the preparation phase. How do we overcome this? 

 

-Make the impossible possible

Getting around other people who achieve their goals can make the impossible seem possible. Why is it so important to be around like minded people?

 

-The first investment you have to make 

The most important investment to make as a new investor is coaching and mentorship. How can having a good coach or mentor help produce results we want?