Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Unlucky Thirteen: 13 Mistakes New Real Estate Investors Make
These are all mistakes that I have made, so I’m not pointing fingers. I urge you to learn from my mistakes.
 
1. Rushing to buy. In 2004, I called myself a full-time real estate investor yet I had never owned any real estate. With my hard-earned money burning a hole in my pocket, I bid sight unseen on a 5-unit property in inner-city Philadelphia because the flier at an auction showed a pro forma capitalization rate of 17 percent. That was a costly mistake and a valuable learning experience. I recklessly bought the property with no due diligence because I felt the urge to buy something. I would have been better off buying a fixer-upper duplex in which I lived in one and rented the other (I did that later on).
2. Not performing due diligence. Many novice investors regret not performing a formal home inspection. I lost a tremendous amount of money on a mixed-use property because prior to the purchase I did not bother to consult the township’s Zoning Officer on what it would take to build an extra apartment on the second floor. Later on, after buying the property, I discovered that the cost to obtain proper approval to ... more

__________________________________________________
Are you on The Rain? Grow Your Network!