“My encouragement to you is to just breathe, stop and acknowledge your loss, assess where you are and make a sound decision on your next project.” Christina Suter
Today I am talking about your mindset and how your mindset can affect how you lose money in real estate investing. To me, there are 7 ways to lose money while investing and the 1st is when investors don’t realize how much of themselves is required to be a participant in investing. The 2nd way to lose money is being overwhelmed and not spending time looking at your project. The 3rd way is by making plans, investing your money and time in education and research and never actually investing. The 4th way is expecting your small team to be responsible for everything. The 5th way is never wanting to split your profits therefore never hiring the people necessary to get the work done. The 6th way is to never do the math before a project starts and not allocating space for what will go wrong. The 7th way to lose money in real estate investing is being too optimistic by adding on projects that you are incapable of handling.
I am sure there are more ways to lose money in real estate investing, but to me these 7 are the main ways that I have either experienced myself or witnessed someone as a consultant and advisor. Though this is a bit different from my regular segments on positivity and ways to make money investing, it’s also important to know that there are ways you can lose money while investing in real estate.
Topics Covered in this episode:
- How to lose money investing in real estate
- Why you are required to be available and focused
- Why investing in education and research should move over into actual investing
- Know what your team is capable of and outsource for those knowledgeable in their field
- Why not splitting profits and doing all the work yourself can set you back
- Why to never do the math before the start of a project
- Never take on more than you can chew
Listen now and find out why Christina thinks education is the key to financial leadership.
The Real Estate Breakthrough Show with Christina Suter is where we talk about the reality of real estate, the mindset you need and the tips and tricks to get you moving forward in investing. Join us every week and learn everything you need to know to invest in real estate education and create real wealth for a lifetime.
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