By Cody Loughlin of FloridaProepertyClub.com

 

The number one mistake that investors make is not buying the wrong house, not knowing what they are doing or paying too much. This mistake is universal and is not effected by the age old rule to real estate “Location, location, location”. 

 

Pay attention because I’m going to tell you the downfall of all unsuccessful investors. This will squash your dreams, happiness and profits to boot. Its been around since the beginning of time and was addressed as one of the seven deadly sins.

 

That’s right, I’m talking about Greed.

 

Nasty little word with more power than any guru dvd you’ll ever overpay for. This can destroy relationships and derail your success. You can not succeed in real estate investing unless you are reasonable. Greed does not associate itself with reason. Greed sees dollar signs only. Greed does not analyze profits and greed certainly doesn’t see the big picture.

 

Now let me tell you a secret. Pick up your pens. Tattoo it to your leg if need be. You can use this in any new endeavor.

 

If you don’t know what you are doing, surround yourself with people who do. Seems simple right? “Keep it simple stupid” or KISS is my only answer. If most of us would remember to keep it simple we would not complicate our lives quite as much as we do.

 

Successful investors know that they need realtors, general contractors, mortgage contacts, title agents and inspectors to make things easy. You need to do some homework on your own but make sure that until you can handle it, use the experts. Do not try to max profits on every deal. There are too many deals out there. When an investor finds a foundation crack after purchase or a wild mortgage lien when they go to sell, they’ll know what I’m talking about.

 

Paying a realtor to sell a house seem too expensive for you? Wait till that buyer sends you a low ball offer and you put 20 comps priced higher in the neighborhood in front of them. Want the contract written in your favor? Talk to your realtor. While they handle the back and forth of negotiation you can be out looking for the next deal.

 

Pick a good contractor and use them consistently and they’ll usually give you a discount and finish the project. When the plumber doesn’t show up for two days do you really want to be looking for him or walking the property of your next big score?

 

Trust me. The headache, time and most importantly to investing, profits can be streamlined if you avoid greed. One house should not be your goal. If you profit $ 20,000 a month instead of $40,000 over three months you will understand what I mean.

 

Do not be greedy. Volume trumps greed everytime. There are plenty of deals out there.

 

I should know as president of the Florida Property Club. We are adding 250+ deals a month at www.FloridaPropertyClub.com Have the deals laid out for you and streamline your investing. You can thank me later.