Why Investors Fail At Flipping or Renting Houses | Matthew Cox | Nitty Gritty Real Estate 4

Real Estate Investing is risky regardless of whether you are flipping houses or buying rentals. It doesn't matter if you're experienced or brand new. One of the biggest mistakes that investors make is blaming someone else for their mistakes and shortcomings. Taking FULL responsibility for the outcome of an investment is Real Estate Investing 101 - but that's not what people are taught.

The bottom line is that Real Estate Investors are their own worst enemies. That's what we are going to cover in this interview with Matthew Cox. Few investors have made mistakes as large as Matt, and few have paid for their mistakes like Matt has.

Matt Cox is a con man who committed tens-of-millions in mortgage fraud, ran from the FBI for 2 years, was eventually caught, and then served 12 years in prison. We don't condone his criminal behavior, but we're tapping into his vast wealth of Real Estate knowledge to leverage his unique perspectives so that we can ultimately become better Real Estate investors.

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[desimo]

20 year landlord here. Rule #1: Check out people before letting them move in. Credit checks, background checks, references, etc. You are far better off with an empty unit than with a rotten tenant. Rule #2: If the rent can't cover the expenses, don't buy the property. Being slightly negative on the cash flow can work, as long as you have a plan to get rents up or expenses down. Rule #3: Your tenants are your customers and treat them as such. Treat your tenants with respect at all times and try to make the property as nice as you can for them. Fix stuff quickly when it breaks. Go out of your way to make them happy. You'll be glad you did. They will like you and look out for your interests.

[wtua]

This is just like when I was an Army recruiter. It was really just sales and I had to make a ton of cold calls. It worked out with my stats that I had to make about 20 contacts to get a 'yes'. I wouldn't stop until I got that 'yes' after countless 'no' replies. Even when rejected, I would accept it gracefully and tell them that I'm always available in the future. I had quite a few people come see me later on when circumstances changed. Tenacity of purpose is key!

[UltimateBargains]

Following a checklist always helps me to stay focused and on track.

[matthewcanfield]

where does a small remodeling contractor go to meet ppl that might invest in him?

[bitcoinkong]

I could listen to his stories for hours

[Yountica]

12 minutes with Matthew Cox feels like 2.

[colorizedenhanced-silentmo]

Hey, Nitty Gritty Real Estate. this is fairly right video. thank. :)

[ridingstuffed]

Why can I see your feet? Have some self respect.

[igorcz]

Mat could open academy how to make money..

[dancer]

I’ll work for free with you Mathew Cox