Over the past few months we have compiled a list of blunders and mistakes made by our readers and ourselves that should be avoided at all costs when investing in real estate.  Here’s our top ten mistakes to avoid as a real estate investor.  Of course, everyone has their own top ten mistakes… if you have some to add, leave a comment! 

1. Kitchen table closings - Not professional, not a “neutral” environment, seller is more likely to say they were tricked or taken advantage of.
2. Basing your buying decision on something else other than hard facts - Will get you in trouble more often than not. Don’t let emoitions get the best of you.
3. Investing in an area you haven’t done any research on - Even if a city is booming, do your research on the specific neighborhood before you buy.
4. Starting your offer too high - Always start your initial offer well below your max purchase price. Remember, you can always raise your offer… but just try to lower your offer and see what the seller does.
5. Not having more than one solid exit strategy - One exit strategy isn’t enough. Have two or three exit strategies that will all produce profits for you.  You don’t want to be stuck with a property that you can’t get out from under.
6. Not making enough offers - Huge mistake by newbies and often the root of discouragement.  Remember, investors who buy 8-12 houses/month will often make 100+ offers to get those deals.  Don’t expect even half of your offers to get accepted (if they are… you’re most likely paying too much!).
7. Trying to go it alone - Just like any business, going it alone will result in failure.  Build a team and only stick to your core compentencies.  Things you aren’t the best at, find someone else who is good at it and recruit them to your team.
8. Not being creative - Don’t use the same overused marketing materials and techniques that thousands of other “bootcampers” are trying to use.  Go out on a limb and try something new.  Create something yourself!
9. Treating investing like a hobby rather than a business - If you don’t take it seriously enough to run it like a true business, how are others going to take you seriously.  Your profits will mirror your confidence and neglecting to run it as a business shows a true lack of confidence that you will be successful.
10. Going at it without a solid plan - As the saying goes, “Failing to plan is planning to fail”.  Without a plan you will get distracted, be unproductive, and derail your hopes and dreams.  (Our real estate and life planning section of our website can help you get on the right foot the first time. )

Those are our top 10 mistakes to aviod… what are yours?  Let us know.  Post a comment below share your wisdome with the rest of us!

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