July 28, 2018

Take Action Real Estate Podcast Episode 12: Common Pitfalls in Real Estate Investing

Podcast page Episode 12

In this episode, John and Brian tell us stories about times they have failed while growing their company, from using disreputable contractors early on to raising the rent on a property they currently own. They also give advice on how to deal with failure and how to minimize it.

Comment below and let us know what you think about today's episode and don't forget to rate us on iTunes!

This Episode is Sponsored by

Core Rentals Logo

Core Rentals offers full service, residential property management in Columbus, Ohio and surrounding areas. They are equipped to handle single-family and multi-family homes. Visit CoreRentalsOhio.com today to have the day-to-day operations of your rental property handled by professionals.

Covered Topics:

  • Failure with contractors.
  • Failure with acquiring properties.
  • Current failure that the guys are dealing with.

Show Notes:

01:08 – The property that Brian and John purchased today and other recent happenings.

          - The best deal they’ve ever gotten on a single-family home.

04:08 – Failure.

04:33 – Failures with contractors.

          - Being careful with who to trust.

          - Not getting proper quotes.

09:55 – Acquisition failure.

          - Winning an auction for a destroyed house.

          - A house that the guys made many different types of mistakes on.

          - Dealing with higher-end homes.

17:06 – Adversity that the guys presently face.

          - Multi-family homes.

          - A property the guys own that is sitting half vacant.

          - Delegating and trusting people.

          - Challenges in growing the company.

20:55 – Viewing failure positively.

          - Using mentors vs. learning from doing.

Topic Takeaways

  • Accept failure and learn from it.
  • Do your due diligence.
  • Be open to advice from private lenders that you trust.
  • Don’t get discouraged when you make mistakes.

Tweetable Quotes

“If you’re going to an auction, maybe don’t make the first bid.” (Tweet This!)

“Knowing your market is a key component to being able to sell a house.” (Tweet This!)

Brian Rightler John Horner Core Developements

Welcome to the Take Action Real Estate Podcast! 

Our hosts, Brian and John, created Take Action Real Estate: the website, podcast, and blogs to help YOU. We want to share our experiences and knowledge and help you get started without making the same mistakes we did.

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