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!

Mistake #2: Thinking you Can Get Rich Quick!

Who hasn’t fallen for one of these seminars, books or late night infomercials?

Hate your job?

Hate your boss?

Do you want financial freedom? Hmmmm……..Yes, Yes and Yes!!!!

The problem is, and I really dislike being the one to break this news to you, there really is no such thing as a “Get Rich Quick” program. Real wealth is created over time, Period. Most of the investors have created wealth by hard work and putting themselves in a position for that success.

Some of the programs you see on TV really do work, but the problem is that they are not quite as easy as the marketing leads you to believe. You can give a person the key to open the golden door, but you can not force them to walk across the room, put the key into the lock, turn it, twist the knob and actually push that door open. It is just too much for them!

Your real estate investment team should there to assist you with your portfolio so that you can create real wealth over time. This adventure should be a fun, exciting and enjoyable process that leads you and your family to real prosperity and financial freedom for generations to come.

If you are being pressured to invest in a deal, you might want to take a step back and think about who you are working with and what your real motivation is for buying the property.

In the current 2008 market, the BUYER is the one who should be applying the pressure, not the Sellers.

This blog, along with our future learning center, is going to deal with EVERYTHING in real estate. We are going to talk about the great opportunities available, pass along a lot of positive energy and work together to create wealth in our investments, as well as our lives.

We are also going to open the dark door of real estate investing that most folks in my position do not want to talk about. We are going to discuss the hardships, the fraud and the plain bad luck that investors have faced. It is Gladiator’s goal, and my personal goal, to venture into all spaces of the investment arena in order to better inform investors and allow them the opportunity to make the best decisions possible.

A Series of Mistakes, Tips and Inspiration

We are going to have many different blog post going on that will evolve over time, a series of ideas and information. They will be filled with facts, opinions and hopefully a little bit of style. If you disagree with anything, let us know! We will also be asking for input from all of you out there. Everything we do at Gladiator is a team effort, and we encourage our agents, clients, browsers and subscribers to contribute to the betterment of our passion and create a solid environment for all investors!

Our first series will address some of the mistakes we have seen investors make. These are issues we have all fallen prey to at one time or another. This should be a great way to increase awareness, evaluate some of our strategies and increase profits!

MISTAKE #1:

Trying to do it all yourself!

In the world of real estate investment, you need a team to succeed.

Please listen to me carefully, you are not Donald Trump, (not yet anyway) so please do not act like it. “The Donald” has a large staff of professionals that perform exhaustive research for his organization before any deals are even considered. The real estate world is alive, it is breathing and it changes quickly. A simple CD course or $1,000 seminar does not transform you into a mega investor overnight! As an investor, you will learn something new every single day.

Team Players

• Real Estate Brokers
• Birddogs
• Title Companies
• Mortgage Brokers
• Local Lenders
• Private Money Lenders
• Appraisers
• Inspectors
• Property Managers
• Contractors
• Attorneys
• Accountants

Phew….Quite a cast of real estate characters involved in any one transaction, isn’t there? I am sure I am missing somebody, and if I am, I apologize. Every single one of these people has the ability to make your transaction, your portfolio and your life a living nightmare! The good news is that a solid team will allow you to sleep at night and enjoy the fruits of your labor. So do not take any of them for granted.

Superstars and the Snake Oil Salesman

This industry brings out the best in people, and it also brings out the worst in people!

Who are the superstars and who are the sharks? Sometimes it is tough to tell them apart.

You hear the stories of rags to riches, but the “Fool and His Money Soon Part” also comes to mind. Most of us have been seduced by the snake oil salesman with the fake smile and empty promise at some point in our lives. Get rich quick? Hmmm See Mistake #2 coming soon.

It only takes about five minutes of being in business to realize that good people are hard to find. There is no magic wand, but we can put people to the test and do everything in our power to minimize as much risk as possible.

Your Broker should not be in business to sell you a couple investment properties and then fade into the night with the traveling carnival and a pocket full of excuses; the goal should be to become your real estate investment resource for a lifetime!

Harrison