Major Obstacles - Real Estate Investing

[CreativeInvesting]

Hi all, I am currently slowly building my real estate portfolio and as I go forward I am trying to put together a list with most common major obstacles. [/size]Please feel free to add to the list, share your experience, offer solution. I will start the list with.... 1.Difficult to find quality property management companies. /Please share any criteria on how to select a property management company?/ Best John

 

[Thomas Beyer]

too little cash --> work first and make some cash or do creative JVs

poor credit --> improve it

poor english --> improve it

too eager --> be realistic

too levered --> more cash down

poor research --> more research

poor or no real estate education --> join REIN and read all books you can find on topic

poor social skills --> improve them

over confidence --> be more realistic

not confident enough --> join REIN and network, build a portfolio slowly then confidence will improve



5 ways to make money http://myreinspace.com/public_forums/General_Discussion/61-3347-5_ways_to_make_money.html



How to get started http://myreinspace.com/public_forums/General_Discussion/61-4391-How_to_get_started_.html



50/50 JV ` is this fair ? http://myreinspace.com/public_forums/Real_Estate_Discussion/62-2015-5050__is_this_fair_.html

 

[Rickson9]

In no particular order:

Lack of knowledge re: reading and interpreting financial statements
Easily influenced to buy
Easily influenced to sell
Easily influenced by fear
Easily influenced by greed
Easily deterred
Easily encouraged
Unable to avoid buying during rising prices
Unable to avoid selling during falling prices
Lack of motivation
Overconfident

 

[housingrental]

REIN has a good package on property management and due diligence on team member selection
I think the latter is available for download on this site and is a good starting point in your search to find a suitable manager

 

[2ndstory]

QUOTE (CreativeInvesting @ Jun 28 2010, 11:09 AM) Hi all, I am currently slowly building my real estate portfolio and as I go forward I am trying to put together a list with most common major obstacles. [/size]Please feel free to add to the list, share your experience, offer solution. I will start the list with.... [/size]1.Difficult to find quality property management companies. /Please share any criteria on how to select a property management company?/ Best John


Read Peter Kinch`s book. There is a chapter on obstacles.

http://www.amazon.ca/Canadian-Real-Estate-...2454&sr=1-1

Nik