Today, I want to talk about my fears with investing in real estate, not that I have very many. But recently I was asked what my great fear was about the economy and the real estate market going into a future real estate crash like we experienced in 2008. I don't know if that's going to happen. I think we're seeing places going up continuously just like we did in 2005, 2006 and 2007. Money is available. Most people can get some type of financing. There is a shortage of properties in the MLS. I don't know if it's going to be like we had in 2008 but is there going to be a crash?
In this episode Larry discusses the importance of buy and hold and being a landlord as compared to being a hamster on a wheel working as a “wholesaler”.
With that said; also think of this as planting a garden, your properties are the seeds.
The tenants got to work for you each month in order to bring you money, this should be remembered when making decisions on how they need to be treated. Larry believes in treating his tenants like “clients”.
Many new investors believe that they themselves need to be able to “afford” the mortgage which is simply not true. Landlord mindset should dictate that the tenants pay your mortgage, not you.
Larry also discusses how the tenants that occupy all of his properties have provided his retirement income while at the same time paying off the loans on these properties which in turn creates equity in them.
Welcome again, real estate friends! Today I’d like to talk with you about the Six Weakest Points of Investing; faux pas made by beginner and experienced investors alike. This is simply because of a lack of understanding of why: why you’re looking at the deal, why you’re interested in buying it, and why it could be profitable.
Don’t forget to visit me at LarryHarbolt.com for all your real estate investing educational needs.
Good Luck and Happy Investing!
I’ve said it once and I’ll say it again: you have to know your numbers to be successful in this business. Here are the 12 most common mistakes I see investors make when beginning to analyze a deal:
Don’t forget to visit us at LarryHarbolt.com for all your real estate investing education needs.
Good Luck and Happy Investing!