What are some of the dumbs things you can do right now?
1. Buying investment properties that DO NOT cash flow positively. People buy with the hope that their house value will increase forever and unfortunately that is not the case.
2. Buying Pre-Construction Condos hoping that when it gets built that they can flip it and make a profit. Again that is very speculative and prices do not always go up. Are you really getting such a “great” deal? Are those “pre-construction” values really below market value? Are you playing the guessing game for what might happen in 1-2 years from now?
3. Buying in the United States because it is so CHEAP! People I know bought houses in Detroit for $5000. Is this a good idea? What about Vegas? No matter what you do always do your due diligence first…
There is a big difference between investing and speculating. It’s your choice as to how much risk you want to get involved it.