Mistake #3: Too much…To Quick

There was a company a few years ago that stated that you can not eat just one potato chip, and the same adage applies to real estate.

Once you buy your first property, you will want to buy more, more, more!

However, you must hold back you delusions of grandeur and take this one step at a time. Real estate has many factors to consider and you must not take any of them lightly.

A good rule to apply is that you should have at least 10% of the value of the property liquid and set aside for any emergency issues. You will experience vacancies, maintenance emergencies and other suprises. You want to be prepared for these situations when they happen.

Nobody ever talks about the headaches and hardships of owning property, but we do! Gladiator Real Estate Group wants you to be prepared for the difficulties as well as your success!

It is easy to protect your upside and more difficult to protect your downside. BE PREPARED!

This entry was posted on Tuesday, February 5th, 2008 at 6:10 am and is filed under Investment Strategies, Mistakes Investors Make, Real Estate Investing. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.