Investing in real estate assets can give you financial freedom, so avoid making these mistakes.

If you fail to plan, you’re planning to fail. If you’re not making an effort to learn how to do things the right way, you’ll be making these four real estate investing mistakes that will cost you tons of time and money. 

1Not being aggressive enough

There’s no such thing as being too aggressive. You can’t out-compete with other investors to put offers on properties without being aggressive.

If you want to become wealthy in this game – you have to get out there, talk to people, find the right deals and make them yours. 

2Selling owned real estate

I had an investment property in a small town that had been steadily appreciating for decades. Still, the housing market crashed, and my rental income couldn’t cover the mortgage payments anymore. I put it on the market to sell at a much lower price than what it would have been years ago.

3Not raising money

Build up the capital to get into this game. If your job pays you $60k, then you’re leftover with $10k/year after taxes, food, kids, and home. The key is not to lose your $10k and keep building it up. 

4Buying within your budget 

If you buy real estate based on your budget, you’ll have nothing. The problem with real estate investing in America is that the Middle class gets the leftovers when you stick within budget. Getting that cash flow will set you apart from getting mediocre deals to landing massive deals. 

Use this formula:

The number of units is the most important thing when looking at properties.

Formula: # of units x cash flow + the time = future appreciation

5Buying too many properties

When you try to invest in too many properties without taking the time to consider if it’s worth value, you will miss out on money. Focus on 2-3 incredible deals worth a lot that you know have immense value and will be profitable in the long run. 

Do you want to find out how I make the best deals, use real estate as a financial vehicle, and make passive income? I’ll give you my personal blueprint for real estate success.

Click here to join my Free Live Real Estate Training.

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Star of Discovery Channel’s “Undercover Billionaire,” Grant Cardone owns and operates seven privately held companies and a private equity real estate firm, Cardone Capital, with a multifamily portfolio of assets under management valued at over $4 billion. He is the Top Crowdfunder in the world, raising over $900 million in equity via social media. Known internationally as the leading expert on sales, marketing, and scaling businesses, Cardone is a New York Times bestselling author of 11 business books, including “The 10X Rule,” which led to Cardone establishing the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platform he created, Cardone University, serves over 411,000 individuals and Forbes 100 corporate clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 15 million plus following to give back via his Grant Cardone Foundation, a non-profit organization dedicated to mentoring underserved, at-risk adolescents in financial literacy, especially those without father figures.