#52: 10 Lethal Mistakes to Avoid On Your First Real Estate Investment

Real Estate Investing with Coach Carson

Chad Carson

Business, Investing

4.9 • 613 Ratings

🗓️ 8 July 2019

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Episode #52 - It's almost impossible to learn everything you need to know before your first deal. The key is to avoid the BIG mistakes that could knock you out of the real estate investing game forever. So, this episode will help you avoid the 10 most lethal mistakes on your first real estate investment. Use this like a checklist to ensure that you avoid the worst case scenarios. By absorbing (and avoiding) these 10 mistakes, you will gain confidence so that you can buy your first deal and move forward.

To get the companion article for this episode go to https://www.biggerpockets.com/blog/2016/03/22/10-lethal-mistakes-avoid-real-estate-investment/

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Transcript

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0:00.0	Hey everyone. Welcome to the Real Estate and Financial Independence Podcast.
0:11.8	My name is Chad Carson. You can always call me Coach Carson. And this show is about investing in real estate, helping you achieve financial dependence so that you can do more of what
0:21.9	matters. Really appreciate you being here today. The episode topic is 10 lethal mistakes to avoid
0:29.1	on your first real estate investment. So I'm going to get into that topic in just a minute,
0:33.8	but before I do, I want to remind you of the real estate investor toolkit that you can
0:38.4	get for free at my website. If you go to coachcarson.com forward slash newsletter, I give this toolkit
0:45.3	to all my new newsletter subscribers. It includes a lot of practical stuff. Like, for example,
0:50.3	have a closing checklist that you can use whenever you're buying your next real estate investment.
0:55.0	It's the exact one that I use, has all the things that I've made mistakes on and forgotten over the years.
1:00.1	And so I keep adding those to my checklist.
1:02.1	And also have a deal worksheet that has a lot of the formulas I use when I'm evaluating a property and the questions I ask when I'm negotiating.
1:09.0	So a lot of practical things like that.
1:10.6	If you're interested, you can just go to coachcarson.com forward slash newsletter, enter an email address, and I'll send that to you. And you also get my newsletter, which comes out every week, which is really the way I stay in touch and let you know what's going on behind the scenes, what I'm up to, what's on my mind. So I hope you'll go over there and check it out,
1:28.0	get the real estate investor toolkit, and stay in touch on the newsletter. I want to mention
1:32.4	before we get started in the rest of the topics that I'm recording today from Ecuador. I'm in
1:37.3	Quenca, Ecuador. And so in the background, as is common in many cities in Latin America,
1:43.0	you might hear some motorcycle roaring by. You might hear
1:46.2	a car alarm or two and some dogs barking. Just know that's normal background noise. Don't worry
1:52.9	about it. I'm doing the best I can here in an apartment where we are. But I wanted to bring
1:58.7	these episodes to you while I was on the road in traveling,
2:01.3	which I love to do and travel with my family. You can listen to my last episode in the podcast
2:06.1	where I talked about how you can travel as a landlord if you're interested in doing that. We like
	...

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