When most people think of JL Collins, they think of smart stock and index fund investing. In his classic, The Simple Path to Wealth, JL lays out the foundational path that investors can follow to secure financial freedom simply, easily, and without a ton of stress. So it may come to many FI chasers’ surprise that JL has written a new book on real estate investing, and not index funds, the stock market, or our current state of high inflation.
In, How I Lost Money in Real Estate Before It Was Fashionable, JL lays out, quite candidly, how not to invest in real estate. And before you get mad about that type of advice on a BiggerPockets Podcast, please note that JL isn’t saying to NOT invest in real estate, but to invest in real estate in a smarter way than he did.
JL is the first to admit that real estate is a phenomenal way to build wealth, create passive income, and retire early. But, if you haven’t fulfilled your 250+ hours of real estate investing education, you probably shouldn’t be purchasing income properties. In today’s show, you’ll hear JL explicitly list out all the mistakes he made when investing, and how you can mitigate these risks and come out profitable instead!
In This Episode We Cover
“Stagflation” and how 2022 is looking more and more like 1979’s burdensome economy
How following the herd mentality to buy real estate may cost you time and money
The biggest home renovation mistakes and how to manage contractors correctly
Staying cautious when buying in a hot housing market and making an offer based on the fundamentals of real estate investing
Capital gains taxes and preparing for depreciation recapture when selling a property
The biggest real estate mistakes rookie investors can avoid when getting started
And So Much More!
Check the full show notes here: https://www.biggerpockets.com/blog/money-285
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