What are some of the worst real estate investing mistakes? Wise people learn from others mistakes! Here are FIVE of my worst mistakes. 🔥 Personal Finance Course & Investing Programs (Coming Soon) https://www.michael-curran.com/finance/join🚨 FREE: Use Coupon Code 🤠MICHAEL🤠 🚨🔥These are educational courses; past performance does not guarantee future results.
🥰 SOCIAL MEDIA & DISCUSSIONS 🥰
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
Rumble: / michaelcurran
Twitter / X: / profmcurran
Tik Tok: / profmichaelcurran
Instagram: / profmichaelcurran
Facebook: / profmichaelcurran
🎬 Videos 🎬
▀▀▀▀▀▀▀▀▀
🔴Index Fund Investing 101 https://youtu.be/68f2Fcw1jWg
🚀Investing ONLY Videos https://michael-curran.com/finance/allinvesting
🏠Real Estate ONLY Videos https://michael-curran.com/finance/realestate
🤑Trading ONLY Videos https://michael-curran.com/finance/tradingonly
📟Personal Finance ONLY Videos https://michael-curran.com/finance/pf
⭐ MY COURSES (COMING SOON: COUPON CODE: 🍎MICHAEL🍎) ⭐
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
💰Personal Finance & Investing:
https://michael-curran.com/finance/join
⚠️#RealEstate #Investing #PersonalFinance #MichaelCurran #MeetKevin #GrahamStephan #InvestingProfessor #ProfMichaelCurran⚠️
What are some of the worst real estate investing mistakes? I share FIVE costly lessons learned. Small multifamily homes are great for house hacking (live in one unit and rent others to pay your mortgage) but beware ones not legally zoned. If something can go wrong, it usually does! Real estate investors are optimistic but you should vet if a property will be a cosmetic fixer upper or a structural renovation project (more costly). IF you buy low enough, you will allow yourself some space in case your actual expenses exceed your projected estimates. General contractors allow you to be more hands-off with the renovation, but raise costs and lead to less control over quality and speed, sometimes creating perverse incentives. To avoid bad incentives like creating built-in obsolescence, don't hire the same crew to renovate as the ones that maintain your property. Don't underestimate the power of relations, honesty and keeping on the right side of people - location and neighborhood can't be changed. I provide an important sixth bonus pitfall to avoid. Hopefully you learn from my mistakes and don't fall into the same holes; if you do, you'll know how to escape!
00:00 Intro
01:01 Avoid Illegally Zoned
Legalizing a multifamily property even if it was used for decades before you purchased is hard. Run away! There are many easier, smoother and more profitable real estate investing opportunities!
03:42 Be Realistic
Cosmetic renovations are more affordable than structural. The value is in the buy: if you buy right, you allow yourself wiggle room should costs overrun.
06:47 General Contractors
General Contractors raise costs, lead to a black box in terms of quality and speed, and may have questionable incentives. Pros: they allow you to be hands-off.
08:30 Separate Teams
Separate your maintenance contractors from your renovation team or you may create the wrong incentives.
09:45 Use Long Term Rent Numbers
Don't rely on short term rent when running numbers. Keep on the right side of people. The value is in the buy, which allows you buffer room should costs escalate.
13:06 Demo Is Cheap
⚠️ Important ⚠️
▀▀▀▀▀▀▀▀▀▀▀
⚠️Consult with Michael (Coming Soon)
https://michael-curran.com/finance/consult
⚠️Invest with Michael (Coming Soon)
https://michael-curran.com/finance/invest
🚀 CONTACT / BUSINESS, INVESTING & CONSULT INQUIRIES 🚀
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
Please email staff@michael-curran.com for any sponsorship, affiliate, collab, job, investment or consult requests.
📝 LEGAL DISCLAIMER 📝
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
https://michael-curran.com/finance/legaldisclaimer.html
