Cash Flow Assets
Cash Flow Concepts - 5 Ways to LOSE Money In Real Estate
Episode Notes
In this episode, Robert discusses:
- The first big mistake - buying everything zero down
- Buying with negative cash flow and buying properties without a plan
- Land development mishaps and lastly, flipping houses
Key Takeaways:
- It’s possible to buy property with no money, but this is a big mistake. Don’t buy property if you don’t have any money to pay for it. It sounds good, but if it goes sideways, you’re going to lose a lot of money.
- Dig deep into planning your expenses, be mindful of your cashflow.
- If you don’t have a plan, you’ll never know once you’ve reached your objectives. If you don’t have a goal, you’ll just keep buying and buying.
- When you go to an auction of a foreclosed property, you don’t get to go through the entire house, you don’t get to look at the plumbing or the electrical system, or the floorings and appliances.
"The lure of easy money is much like following the siren’s song. You have to be careful because the siren isn’t there to be your friend. The banks aren’t there to be your friend." — Robert Slattery
Connect with Robert:
Website: https://www.blackwellworkshop.com
Seminar Registration: https://www.cashflowassets.com
Twitter: @roberteslattery
Facebook: https://facebook.com/groups/blackwellworkshop
YouTube: https://www.youtube.com/channel/UCol1gk3ofVzsCeqYWPTnJWg
LinkedIn: https://www.linkedin.com/in/roberteslattery/
Instagram: https://www.instagram.com/therentalpropertywealthcoach/
Book: Coming Soon!
Email: podcast@cashflowassets.com