6 Investment mistakes we will never make again

In real estate, small mistakes can make or break your deal. One slight oversight and your yearly cash flow can be wiped clean. For new and seasoned investors alike it is important to hear where others have messed up so that we can learn their lessons without suffering their pain.    In this episode, Tom Schneider is back with Emil and Michael to share their biggest real estate mistakes, ones that hurt so bad they’ll never make them again. Episode Links: https://www.roofstockacademy.com --- Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Tom: Greetings and welcome to the Remote Real Estate Investor. My name is Tom Schneider and I am joined by…   Emil: Emil Shour.   Michael: and Michael Albaum.   Tom: And today we got a fun topic. We're going to be talking about the six mistakes you'll never make again. Let's get into it.   I heard of a great question to ask people. You know, when you're trying to not try to understand how they're doing, you know, without leading the witness, what's on your mind?   Michael: Uhh, uhh…   Emil: Uh, uh, I have…   Tom: What's on your mind, Michael?   Michael: Ehmm…What's on my mind is got a lot of balls in the air, which I feel like is a standard thing that I've been saying over the last two years, so just got a couple refires in the works, got my rental unit upstairs for a new primary that were house hacking, going to be getting tented here shortly. So just making sure all the cookie crumbles are getting baked into cookie properly. If that's the same…   We're putting it back together and putting Humpty Dumpty back together, man.   Tom: Why not, why not? How about Emil, what's on your mind?     Emil: Oh, man. I was chatting with Michael this morning, actually. We have a weekly calls just talking about what's going on. And I was chatting with him about this person that I've been wanting to hire, the position I've wanted to hire but I keep putting it off. And I'm not sure if right now is the right time in the business to hire this person. And I just keep… I talked to other people who run businesses and they kind of keep nudging me to do it even before I'm ready. So that's been the biggest thing on my mind. So this week, I'm going to start putting together, documenting some processes and putting a job ad out there to at least have some conversations and hopefully find this, this unicorn of a person I'm looking for.   Michael: In the words of The Waterboy: You can do it!   Emil: If you're, if you're a content marketer, and you like creating briefs for writers and editing content, please, please reach out to me. I would love to chat with you. Free plug, thank you!   Michael: At eshour@gmail?   Emil: Emilshour@gmail. Yeah!   Michael: Sweet. Tom, what's on your mind my friend?   Tom: I love that question. It's just kind of you know, cuts a little deeper. So got a baby, I got like a three week old baby so not sleeping in longer since then, like two or three hours. But to be fair, the first baby was… I was it was much worse, worse than that, I don't know what the right word is it… Anyways, so got a very good three week old baby but still a three week old baby. Besides that just yeah. Yeah, doing it. I wish I'd taken a longer paternity leave. I think I kind of blew it on that front in the retrospect but who knows if there's a third one, I'm going to take a good two months off because that is special time, so that's what's on my mind, cruising along. Let's…anything else, guys? Anything else in your mind before we get into the topic today?   Michael: No, it's super exciting to hear, ev