Buying first investment property Challenges - Someone lost money in the past

Buying first investment property Challenges - Someone lost money in the past

Buying the  first investment property can be very challenging, but my goal is every homeowner I know, I want you to buy investment property so you can have some residual income for your family and give you that financial freedom.

Welcome to Wealthy Wednesday.

One of the challenges is: Hey, I know someone who did lose money in real estate investment. And I hear that a lot of times and there could be different reasons. Number one thing, you really don't know that your friend, how many times they invested. 

Do they have real experience? Because if you don't have experience and if you are not working with an experienced person, investor or realtor, you have a chance to lose money. So you got to know the full details of that friend who lost money.

Maybe that friend got hold of a Con artist or scammer. Wherever there is a way to make money, the scammers jump in there.

So you have to be careful who you're dealing with. You just don't want to partner with someone because they just give you a lot of high false promises. You want to partner with or get help from someone who are doing real estate and the investments specially, for a long time. And they will be practical with you. They will say, hey, if we do this, the result will be this. Not just false promises.

So again, if you know someone lost money through real estate, ask them some details. What kind of investment was that? Was there a partner involved or all the details? And what time of the real estate, means was it before the foreclosure started in 2006, 2007? Because a lot of people bought high priced property with 100% financing or so. And when the market went down that time, they lost money. That doesn't mean that you always lose money. You'd rather speak with someone, your friend who has real estate investment properties. So that's what you want to do. You want to get a check up  for your help, who you go to, you go to a specialist. You don't just listen to your family members about those who don't have any experience.

So again, don't have that fear of investing knowing one scary story. There are so many people that are getting their wealth from real estate. Why not You? Let's talk. Let's discuss. My name is Shawn Bhakta. I'm doing real estate for over 20 years and investment for over 15 years. I can definitely sit down with you and explain some of the real estate investment aspects.

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