Cash Flow Guys Podcast

Mistakes are common, and something that is necessary in the learning process.  In this episode Tyler Sheff and Larry Harbolt discuss many of the common mistakes that investors make (including us)   #1 Being in a rush to make money fast / get rich quick:   Making money in real estate is a time tested way to build wealth, however it is far from a “get rich quick” scenario.  Larry discusses when you build a house, you don’t begin with the roof, you begin with the foundation.  Niche methods are fine, however the investor must have many tools in their toolbox to acquire properties.   #2 Over Analyzing / Analysis Paralysis: A successful investor takes the time to decide what their profit margins needs to be.  If the “deal” does not fit the numbers then you have two choices….negotiate to structure the deal so the numbers work or pass on the deal.  By first figuring out what your needs are from the investment, you can then build a template to use in order to quickly analyze deals.   #3 Inheriting someone else’s night