Dec 17, 2020
Success in real estate investing is all about following a formula, but a lot of the training out there only focuses on what to do when everything goes right. More often than not, we have to learn what not to do, and how to avoid the common pitfalls so many investors have had to experience the hard way.
Some of the most successful investors have learned from the mistakes they made early on. From how to mitigate risk with contractors, how to structure our businesses to avoid being at the mercy of banks and the power of coaching, there are so many important aspects of being successful that are overlooked.
My guest today is an investor who, like many of us, has learned the biggest lessons the hard way, and is now teaching others so they don’t fall into the same traps.
What is the biggest Achilles heel for a real estate investor? How do we structure our investment businesses to protect ourselves from risk? In this episode, experienced investor and coach, Brain Adamson talks about his evolution as an investor.
Three Things You’ll Learn In This Episode
The one thing that gets investors in
Contractors are absolutely the toughest part of running an investing business, and one of the most important skills we can gain early is streamlining this part of the business. We have to learn how to mitigate our risk with contractors, how to draw contracts to keep them honest, and quickly part ways with bad contractors.
How to build asset protection into our
One of the biggest mistakes new investors make is buying properties and operating in our own names, instead of protecting our assets by creating separate entities and LLCs. That way, if anything happens with the bank, we’re fortified from it.
Why coaching and mentorship are so important
People are the most valuable resource for any real estate investor. One of the most important relationships we will ever have is with our coaches or mentors. The wisdom of other people will help us navigate investing with fewer challenges, and streamline our operations.
Brian Adamson is an Experienced Real Estate Investor & Educator at BBR EDUCATION GROUP. He has a demonstrated history of successfully purchasing more than 50 properties each year, and he created a program that helps other investors all over the world do the same.
For more information follow @brian_adamson1 on Instagram and visit https://www.iflip.university/ to sign up for Brian’s free mini-course.