Major Lessons To Help You Become A Real Estate Millionaire

Happy Friday everyone!

I made THIS POST on my instagram this week and was so disappointed I didnt get encourse more people to share additional Lessons or Unique Tips they’ve learned growing as investors.

I love to post content that creates conversation, but the problem with Social Media is honestly the interactions tend to feel shallow so I think people are regularly inclined to just not engage.

Anyways if you don’t want to click the link its basically a series of photos that share:

Major Lessons To Help You Become A Real Estate Millionaire

1. The easiest way to find deals is by expanding your network. The easiest way to grow your network, is by being the one with deals to sell.

2. Every tenant turnover costs money. Sometimes its best to let the tenant stay at below market rents so you won't have to spend excess money making the unit rent ready again.

3. You CAN go broke buying great deals. Make sure you have Massive Income or youll go bankrupt chasing that Passive income.

4. You don't have to Flip/Wholesale and Invest long term in the same market. Make your money where its less competitive, keep where the market is hot.

5. If youre renovating a home and see something thats broken or incorrect, stop everything and fix it. It will never be easier to fix than at that moment.

6. If you rent to a couple, and they break up. Ask both of them to leave. You never know who the new "cohabitants" might be when they reenter the dating scene.

7. Listing Photos matter on rentals too. If your photos look like they were taken with a baked potato, your prospective tenants will be lesser.

8. Double check work from ANYONE who gets paid only when your deal closes. Realtors, lenders, sellers, insurance agents. Theyre all there to help, but also want to get paid, so make sure you know how to ensure they are doing their job correctly.

I particularly think #6 is a decently controversial one.

I have learned this the hard way and I always get a quizical response when I tell people this, but maybe its common knowledge and I just never knew!

So my ask!

What are you guys major lessons and tips you have learned as investors that may not be totally conventional wisdom??

You can reply to this email, or even better yet if you have IG go and comment on THE POST to maybe get others to chime in as well!

For all of us in the trenches, we have so much to learn from others so don’t be afraid to share!

Have a great weekend everyone,

Mike