176: Rookie Reply: Tony’s Troublesome Shreveport Deal ($29k LOSS)

Every week, Ashley and Tony reply to a frequently asked question from the BiggerPockets community. But, this week, they’ve decided to finally answer the most asked question yet: what happened with Tony’s Shreveport deal? If you’re an avid Rookie Reply listener, you’ve probably heard Tony talk about one property that he has been trying to sell for over a year. Well, it’s finally sold, and Tony’s here to share all the details, mistakes, and numbers so you can do better on your next deal. While this wasn’t Tony’s first deal, it did provide him with a strong foundation of knowledge to pursue bigger and better real estate investments. So, if you find yourself looking for deals, or stuck with a bad deal, take some of Tony’s suggestions to heart: Avoid buying properties in flood zones unless you’ve fully calculated the cost of flood insurance  Be highly selective of your property’s location and get to know the neighborhood you’re buying in Have multiple exit strategies for every property (rental, flip, BRRRR, etc.) See money spent on a deal as “real estate education” that will make you richer! Know that as an investor, you’re not going to get everything right all the time And more in the episode… If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE). Links from the Show Real Estate Rookie Podcast Real Estate Rookie Youtube Channel Omid's Instagram  Check the full show notes here: https://www.biggerpockets.com/blog/rookie-176 Learn more about your ad choices. Visit megaphone.fm/adchoices