10 DO NOTS of Real Estate Investing

So you think you’re ready to start investing. You’ve read all the books, studied all the courses, and talked to all the experts. But just to make doubly sure that you don’t make the common mistakes that some, if not most, investors make, here is a list of 10 “Do Nots” you should absolutely try and avoid doing on your first or next deal.
DO NOT pay too much for the property, no matter how nice it is. Remember the lower you pay, the lower you can price it, the faster it will sell, and the sooner you will see profit!
DO NOT fall in love with the property. Once emotions get into the mix, it can affect vital cost efficient decision making.
DO NOT rush through a deal. Don’t cut corners, or take short cuts. Dot every “I” and cross every “T”.
DO NOT skip out on homework. Research the property to its fullest. What’s worst than buying a crack house in a bad neighborhood is paying too much for a crack house in a bad neighborhood.
DO NOT work with difficult people. If they were difficult in the beginning then most likely they will be difficult during and all the way through the end of the process. It’s not worth it. Walk away while you still have your sanity.
DO NOT bend over backwards just to make a deal work. Be willing to walk away and remember there are plenty of fish in the sea.
DO NOT underestimate the importance of marketing. Putting one measly little “For Sale” sign in the front of your property is not going to cut it. Use the internet, newspapers, flyers, whatever you can to spread the word and market!
DO NOT waste time on tire kickers. Make sure every potential buyer you show the property to or take time to entertain are actually qualified buyers who have a real potential to buy. Time is money, so don’t waste time on people with no money!
DO NOT be offended by low ball offers. Remember it’s all business, not personal. Plus you’d probably be doing the same thing anyways if you were in their position.
DO NOT get greedy. Once you’ve successfully closed a deal, know for certain that there are many deals out there to be had. So don’t try to get all you can from one deal. It’s better to close and profit with a few thousand or even just a few hundred dollars, then never closing at all.
And just a little bonus that’s probably one of the most important Do Not there is:
DO NOT GIVE UP! Remember, every “No” is one closer to a “Yes”. They need you more than you need them. You are a solutions provider. Now go and deal is waiting!