Name the one thing you would advice to new comers

**MikeAustin** · 01-03-2011, 07:48 PM

Pros, non pros and ponderers!

Name the one thing that you would recommend NOT to do when investing in Real estate.

And what would be the one thing that you think RE investors MUST do?

**ryanhmt** · 01-04-2011, 04:23 AM

Before investing in real estate, there should be a investors public record.

Do not believe on any ones successions. Just go out in the world and trust on your eyes.

Depending upon the state in which the transaction takes place, either party may pay a brokerage fee. You must keep track of this!

**MikeAustin** · 01-04-2011, 09:54 AM

Originally Posted by ryanhmt

Before investing in real estate, there should be a investors public record.

Do not believe on any ones successions. Just go out in the world and trust on your eyes.

Depending upon the state in which the transaction takes place, either party may pay a brokerage fee. You must keep track of this!

Thanks for sharing ryanhmt!
However I do think that listening to what other people have to say is vital, because even if they are lying, it's for a reason. When you find out why they are saying what they are saying, you will have a good grasp on the matter. So Use your own common sense to figure out what is really going on, and keep listening.

**byHomeOwner** · 01-04-2011, 10:10 AM

I would advise new real estate investors to not spend all the funds they have available on their first purchase. Make sure you have additional funds availble to cover unexpected costs and issues.

**MikeAustin** · 01-04-2011, 10:22 AM

Originally Posted by byHomeOwner

I would advise new real estate investors to not spend all the funds they have available on their first purchase. Make sure you have additional funds availble to cover unexpected costs and issues.

Yes exactly, one should only risk money that he or she can afford to loose. But then again, no risk no gain! but be sure to calculate the risks properly.

**markbrian** · 01-04-2011, 10:48 AM

Those who can do, those who can't will be at the Sheraton this weekend teaching the Learn How to Get Rich Overnight in Real Estate Seminar

**ryanhmt** · 01-07-2011, 04:37 AM

@ byHomeOwner
I agree! Good point to be kept in mind for a new comer. Better financial planning keeps us safe and who knows when we need more money so its better to have a back up plan.

**DerrickSakai** · 01-10-2011, 04:26 PM

I would say, if I recommend one thing is to get to know people who matter, in other words..Networking. Because the more you know people the more you increase your knowledgebase as well as build essential contact list.

The one thing you should not do is risk more than you can afford to loose.

**ryanhmt** · 01-11-2011, 02:49 AM

New comers should take care of risk factors. Analise the property value and make your decision of investment accordingly. If you think all clear but don't have enough money.. you can get a quick finance like hard money loans for real estate investors.

**realestategirl** · 01-11-2011, 10:30 PM

I would probably say, "Dream big, but start small". Real Estate might be one of the most profitable businesses out there but it is also one of the most unpredictable, with an ever changing market and fortunes. Always secure EACH of your investment properties and do not buy a huge amount of it. If you cannot find a buyer, you are stuck with properties you also need to maintain and pay taxes on.