7 Common Real Estate Investment Mistakes

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Author: Gabrielle B Dahms

Gabrielle B Dahms is a real estate professional and a real estate investor with over a decade of experience. She is active in the San Francisco/Bay Area. Gabrielle knows the real estate marketplace, can communicate it, and devise the appropriate strategy with her clients. She is an expert in her field, who listens to her clients and who delivers.

Below are some of the most common real estate investing mistakes and pitfalls. May you avoid them altogether or at least recover from them quickly.

There are more, of course, and you are likely to add your own to the list. Take heart, that is actually a good sign and simply means you are taking action rather than knowing it all and doing nothing. Mistakes help you to correct your course, unless they are so drastic that course correction is no longer possible.

Pay attention to all details in real estate investments, implement systems and test them out, and as always call on your real estate investment mentor for help and support. If you don’t have a mentor, consider getting one now.

The 7 Most Common Mistakes are:

1. Not considering the value of your time

2. Being too nice to tenants

3. Failing to run all the numbers

4. Faulty cashflow analysis

5. Failing to factor in transaction costs

6. Failing to account for all expenditures and repairs

7. Lack of risk management

The above 7 Real Estate Investor Mistakes can wipe out any real estate investment business in a hurry. It is prudent to pay attention to these issues and to avoid them to the best of your ability. Bay Area veteran investor John T. Reed goes into detail on many of them. He also has published invaluable books on real estate investing, football and baseball coaching, and on the subject of success. Visit his website at www.johnreed.com.

The truth is that all of these mistakes are about managing risk, which is only possible when looking at an investment deal from as many angles as you can and answering some tough questions. Due diligence, knowledge of financing, and knowledge of how best to hedge real estate investment property are essential. A good plan, aside from providing focus, addresses these issues – along with collaborators who know what they are doing, whether a good real estate agent, title officer, or mortgage professional.

Ultimately, considering possible mistakes and addressing them before they happen provide the buyer/investor with options and eventually with profits.

This article is one of several in our Anatomy of a Real Estate Deal series. Please read any and all of them and send them on to the people you like and trust – anyone who has ever considered being a real estate investor or is one now.

Gabrielle B Dahms is an active real estate investor as well as a real estate agent with a decade's experience. She continually educates herself and applies her energy, understanding, knowledge, and love to serve her clients. Follow her on Facebook at http://www.facebook.com/pages/San-Francisco-Bay-Area-Real-Estate-News/161447533871389 and connect with her on LinkedIn at http://www.linkedin.com/in/gabrielledahms

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