Ep #23: The 31 most costly mistakes investors make and how to avoid them – Part 1
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
4.8 • 679 Ratings
🗓️ 2 June 2014
⏱️ 32 minutes
🧾️ Download transcript
Summary
It’s a fact that experience is by far the best teacher, but it is absolutely idiotic to reinvent the wheel. My suggestion is to learn from those who do what you do (real estate investor) and who have been extremely successful. The following 31mistakes come from a combination of my own personal experiences throughout my 14+ year investing career and from the most common responses I get from other successful investors when I ask them about their past and get the details on how they built their real estate business.
Learn from this series and avoid making these same mistakes.
In this show you’re going to learn:
· Why it’s imperative that you have a game plan in place for your business
· How to avoid the "tenant from hell"
· Avoid being ripped off by contractors
· Learn how to build your all-star team
· Why cash flow should be your #1 priority
· How to plan so that you don’t run out of cash on your rehab or turnaround
· How to ensure that you’ve properly protected your assets
· And much more…
Transcript
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| 0:00.0 | You've been searching for the best way to generate passive income in your life and heard that real estate is a great way to do it. |
| 0:09.2 | But you're tired of all the so-called gurus who are all talk and no substance. |
| 0:15.3 | Get ready to celebrate because Kevin Bup has spent 14 years successfully making it happen. This is the Real Estate Investing for Cash Flow podcast. Now, here's Kevin Bup. |
| 0:30.7 | Hey guys, Kevin Bup here with episode number 23 of the Real Estate Investing for Cashflow podcast. |
| 0:37.9 | Our mission is to help you build and maintain massive amounts of cash flow through |
| 0:42.1 | income producing real estate investments. |
| 0:44.8 | If you're new to the show, I want to welcome and thank you for joining us. |
| 0:48.9 | And if you're one of the loyal listeners that's been listening to us for a while, I'd like to |
| 0:52.6 | salute you for your dedication |
| 0:54.3 | to becoming a better real estate investor and being part of our awesome community that we have here. |
| 0:59.8 | Today, we're going to be doing part one of a three-part series that I just created, and this |
| 1:05.2 | three-part series really stemmed from a variety of questions that I've been receiving over the |
| 1:09.2 | past few months from the listeners. |
| 1:17.5 | And I thought this was the best way to kind of knock them all out and to cover them all at once, |
| 1:23.7 | but more than a broad spectrum that would appeal to everyone that listens to the show, not just those that ask the question. |
| 1:28.7 | So we'll be answering the questions and also expanding a little bit on those questions in a three-part series. Three-part series is called the 31 most costly mistakes investors can make |
| 1:35.4 | and how to avoid them. And today we're going to go through the first 10 of those and then we'll |
| 1:41.3 | have the additional two-part series coming in the following two weeks. |
| 1:45.0 | So, you know, whether you're a complete newbie or a seasoned professional with hundreds of units under your management, |
| 1:51.5 | I'm absolutely positive that you'll still enjoy and learn tons from this three-part series I created. |
| 1:57.2 | And as you guys can probably tell already, I really don't like wasting any time with fluff or filler that isn't going to make you smarter or make you more money in your real estate investing business. |
| 2:05.6 | So let's get on to the meat and potatoes of the show. |
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