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4 Lessons to Learn from Experienced Investors

Most people would do things differently if they were given a second chance to invest again. If known, it would save a lot of time and money spent by rookie investors.

For this, here are 4 lessons that you can learn from experienced investors:

#1: Motivation of the Seller Matters More

It’s never about the property’s condition or location. Instead, these factors are always secondary to the motivation of the seller. In the situation where the seller is not motivated to sell, it doesn’t matter where the property is located or its condition. What’s clear is that you won’t get a good sale.

#2: If You Don’t Ask, You Won’t Get

A number of real estate investors don’t make an offer for the fear that they will get rejected by prospective sellers. This can cost them thousands of dollars since they are of the opinion that a seller won’t accept an offer hands-down.

#3: Rehab properties aren’t for Everyone

Before you think of purchasing rehab properties, it’s a good idea to do your research. For that matter, most experienced investors know that this type of activity takes up too much energy to complete, too much money to invest in as well as too much time to turn when they’re sold. This poses as too much risk for investors and one that you shouldn’t think of, not unless your investing business.

#4: Change the Way You Think About Money

Sometimes, your own self-limiting thoughts about money can work against you. Some people have experienced doubt when it comes to selling property that they buy because of their own beliefs. In this case, the inability to believe that a lot of money can be made easily from so little effort.