Mistake #1: Jumping right in without enough of the right information
Fortunately for you, you are streets ahead of most other people here, due to the fact that you’re reading this book! It’s only a start, but information like this can literally save you millions of dollars over the next few years of your life. Information is that important.
We live in the ‘information age’, yet I’m constantly appalled at the lack of information gathering that the average property investor does before they spend hundreds of thousands, if not millions of dollars on a property.
Going off half-cocked and assuming you know everything you need to know is always a recipe for disaster. Remember, I’ve been doing this for over 26 years now, so I’ve seen them come and I’ve seen them go.
But information products like this one are absolutely invaluable. As I said though, it’s only a start. One common factor to all successful property investors is that they seek expert advice, early, and they pay for it. The modest fee for good advice is always far, far less than the price you’ll pay if you make a mistake with hundreds of thousands of dollars of somebody else’s money.
No man (or woman) is an island. Arnold Palmer, aged in his seventies, still hires a coach to help him with his golf swing, even after all these decades at the top of the game. There’s the ‘school of hard knocks’, and the school of ‘prior learning’. So, the ‘trial and error’ methods that used to be our only options are no longer needed.
Tip on a mistake made with Property investments