The Three Big Fat Mistakes of Real Estate Investors

Don’t invest in real estate until you read this report on the top three traps real estate investors fall into.

Big Mistake #1: Willy Nilly Syndrome – The worst thing you can do in real estate or any other business is go into it randomly. Before you begin, you need to set goals and plans to reach those goals. For example, if your goal is to wholesale 2 houses per month, decide what steps you will take to make that happen (i.e. speed your marketing, work with a real estate agent, etc.)

Big Mistake #2: Inconsistent Marketing – Never stop marketing. We’ve all been tempted to withdraw marketing dollars when leads are arriving (or worse, when they’re not), but that’s exactly the opposite. Commit to a marketing plan for at least 3-6 months to determine its effectiveness. Always be evaluating your marketing plan. It’s your lifeline in this business.

Big mistake #3: follow up, follow up, follow up: If the practice is perfect, the follow up pays off. Time and circumstances will determine a salesperson’s motivation each time. If Sally Homeowner is not ready to sell today, follow up with her in another 30 days, and 30 days after that and 30 days after that until the house is sold or blown away by a cyclone.

These are some common mistakes, but the biggest mistake of all results is when you don’t try. The real estate investment business can be very lucrative, but it can also be frustrating at times. Don’t be so afraid of making a mistake that you don’t try.