"It's easier to stay out of trouble than it is
to get out of trouble."
Oh Warren I wish I didn't know how true it was. It only takes a dozen or so hours to buy a
property where the property manager
you hire turns it into a crackhouse and gets you fined for fire code violations amongst other hassles but
it can take you years to sell or fix that problem.
Sound like a lesson we wish we didn't learn the hard way?
You're right.
Spend a day or two doing solid due diligence on every single property BEFORE you buy. Those hours could save
you years of stress, thousands and thousands of dollars and even making the news as a the absentee landlord
being fined in local crackhouse!
"I made my first investment at age eleven. I was
wasting my life up until then."
Time is passing by - whether you're investing or not. And given that it takes time
to build your wealth there is only one thing you should be doing right now... focusing on how you're going
to make yourself wealthier tomorrow by doing something today.
Warren Buffet may not be a real estate investor but
he is one of the smartest investors in the world. And his message to me is quite simple ... focus, be
consistent, follow simple rules, find one good deal at a time and take small steps every day. These are some of the
simple things that have brought him enormous success in the stock market and I believe if you follow them they will
also bring you enormous success in the real estate market too.
Published on January 20th, 2010
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