154: 2023 Investing Mistakes That Lost Us Hundreds of Thousands
36:00 Share

We messed up. Our real estate investing)** mistakes in 2023** totaled up to hundreds of thousands of dollars, and although On the Market) is THE show where expert real estate investors come together, today is proof that we all make mistakes. From forgotten tax bills to **landscaping debacles **that cost six figures in interest, letting your property manager run your short-term rental into the ground, and forgetting about a house you own—these mistakes are rough. 

If you feel like you made severe investing mistakes) in 2023, worry not, because on this episode, our** expert guests will talk through some of their most painful real estate losses** of the past year as entertainment for you to enjoy! Ever forgot that you owned a house that had interest accruing on it? Thought that deal you lost money on was over? Didn’t pull a permit, and now you’re stuck paying six-figure holding costs over some shrubs? You probably haven’t made these mistakes, but our guests have!

Stick around to hear** exactly what you SHOULDN’T do in 2024** (and beyond) and how you can turn a terrible situation into a profitable deal…or at least a lesson you don’t repeat. 

In This Episode We Cover:

Why you should **NEVER wait to pull permits on a flip **and how it could cost you six figures

The massive **“loan forgiveness tax” **you could be forced to pay if your deal goes south

Forgetting about a flip and the downside to scaling your portfolio) too fast

Whether or not **you missed the best buying opportunity **of the past year 

Hire slow, fire fast, and signs it’s time to relieve your property manager) of their duties 

Why you’ll want to become Henry Washington’s next private money lender 

And So Much More!

Links from the Show

Find an Agent)

Find a Lender)

BiggerPockets Forums)

BiggerPockets Agent)

BiggerPockets Bootcamps)

Join BiggerPockets for FREE)

On The Market)

Join the Future of Real Estate Investing with Fundrise)

Connect with Other Investors in the “On The Market” Forums)

Subscribe to The “On The Market” YouTube Channel)

Dave's BiggerPockets Profile)

Dave's Instagram)

Henry's BiggerPockets Profile)

Henry's Instagram)

James' BiggerPockets Profile)

James' Instagram)

Kathy's BiggerPockets Profile)

Kathy's Instagram)

3 Investing Mistakes You Don’t Want To Make In 2023)

14 Mistakes New Investors Make)

Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-154

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]).

Learn more about your ad choices. Visit megaphone.fm/adchoices)