How Can Your END GOAL Help You Avoid BIG MISTAKES in Your Real Estate Business?
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Every real estate investor has their own share of mistakes in real estate and learning about them can help you avoid them in your own business. In this video, David Dodge is sharing his biggest mistake in his years of investing in real estate and what he believes the true goal for real estate investors is.
Watch now to learn what David’s biggest mistake was, what he learned from it, and what your end goal should be if you want to succeed!
Key Talking Points of the Episode
[00:00] Introduction
[00:10] What was the biggest mistake David made in real estate?
[01:12] How can people connect with David?
[02:16] What is the end goal in real estate?
Quotables
“I’ve only lost money on three properties and I’ve done close to a thousand transactions. All three of the properties I lost money on, I overestimated my ARV and I underestimated my repairs.”
“My advice to anybody that’s new, if you think it’s gonna cost $20K to fix it, it’s probably gonna cost $25K-$30K. Don’t underestimate it, you’re shooting yourself in the foot so just give yourself a healthy budget for repairs.”
“My passion is adding rentals to my portfolio with little to no money, it’s the BRRRR method 101.”
“I like to help people buy their first rental property and I also like people to also come into the group that has a couple and we can help them scale it up to 20, 30, 50.”
“Most people, their goal is they wanna be financially free and that was my goal too until I realized that time is more valuable than money, but it’s very difficult to get time freedom without the financial freedom aspect.”
“As we mature and grow as investors, we realize that financial freedom is really step 1. Step 2, what we all really want, is time freedom and that’s really what having a rental portfolio will do. It’s amazing!”
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