61 min listen
154: 2023 Investing Mistakes That Lost Us Hundreds of Thousands
FromOn The Market
ratings:
Length:
36 minutes
Released:
Oct 30, 2023
Format:
Podcast episode
Description
We messed up. Our real estate investing mistakes in 2023 totaled up to hundreds of thousands of dollars, and although On the Market is THE show where expert real estate investors come together, today is proof that we all make mistakes. From forgotten tax bills to landscaping debacles that cost six figures in interest, letting your property manager run your short-term rental into the ground, and forgetting about a house you own—these mistakes are rough.
If you feel like you made severe investing mistakes in 2023, worry not, because on this episode, our expert guests will talk through some of their most painful real estate losses of the past year as entertainment for you to enjoy! Ever forgot that you owned a house that had interest accruing on it? Thought that deal you lost money on was over? Didn’t pull a permit, and now you’re stuck paying six-figure holding costs over some shrubs? You probably haven’t made these mistakes, but our guests have!
Stick around to hear exactly what you SHOULDN’T do in 2024 (and beyond) and how you can turn a terrible situation into a profitable deal…or at least a lesson you don’t repeat.
In This Episode We Cover:
Why you should NEVER wait to pull permits on a flip and how it could cost you six figures
The massive “loan forgiveness tax” you could be forced to pay if your deal goes south
Forgetting about a flip and the downside to scaling your portfolio too fast
Whether or not you missed the best buying opportunity of the past year
Hire slow, fire fast, and signs it’s time to relieve your property manager of their duties
Why you’ll want to become Henry Washington’s next private money lender
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
Henry's BiggerPockets Profile
Henry's Instagram
James' BiggerPockets Profile
James' Instagram
Kathy's BiggerPockets Profile
Kathy's Instagram
3 Investing Mistakes You Don’t Want To Make In 2023
14 Mistakes New Investors Make
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-154
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
If you feel like you made severe investing mistakes in 2023, worry not, because on this episode, our expert guests will talk through some of their most painful real estate losses of the past year as entertainment for you to enjoy! Ever forgot that you owned a house that had interest accruing on it? Thought that deal you lost money on was over? Didn’t pull a permit, and now you’re stuck paying six-figure holding costs over some shrubs? You probably haven’t made these mistakes, but our guests have!
Stick around to hear exactly what you SHOULDN’T do in 2024 (and beyond) and how you can turn a terrible situation into a profitable deal…or at least a lesson you don’t repeat.
In This Episode We Cover:
Why you should NEVER wait to pull permits on a flip and how it could cost you six figures
The massive “loan forgiveness tax” you could be forced to pay if your deal goes south
Forgetting about a flip and the downside to scaling your portfolio too fast
Whether or not you missed the best buying opportunity of the past year
Hire slow, fire fast, and signs it’s time to relieve your property manager of their duties
Why you’ll want to become Henry Washington’s next private money lender
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
Henry's BiggerPockets Profile
Henry's Instagram
James' BiggerPockets Profile
James' Instagram
Kathy's BiggerPockets Profile
Kathy's Instagram
3 Investing Mistakes You Don’t Want To Make In 2023
14 Mistakes New Investors Make
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-154
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
Oct 30, 2023
Format:
Podcast episode
Titles in the series (100)
3: 8 Homerun Housing Markets of 2022 (and Beyond!): When choosing a 2022 housing market strategy, you’ll need a few key ingredients. Things like job growth, population growth, affordability, and new construction are just a few ways to see whether or not a real estate market will stand the test of time. As the housing market begins to see some stalled demand and we enter into potentially “bubblicious” territory, the smart investor begins looking for the best place to park their money for the long term.Back again for our second episode of On The Market is VP of Data and Analytics at BiggerPockets, Dave Meyer, buy-and-hold addict, Henry Washington, head honcho of wholesaling, Jamil Damji, and our resident Californian, Kathy Fettke. This time, we’ll be touching on the latest data and news claiming that the US is starting to enter into a housing market bubble and how demand has sharply declined since interest rates have begun to rise.We also share our favorite 2022 housing market picks for by On The Market