What was Your Worst Real Estate Mistake?
I've never lost money on a real estate transaction, but I still have made lot's of mistakes. Real Estate like any other business is an activity where the longer you do it, the more you learn and the better you get. Mistakes are a good teacher.
I made many mistakes on a single Real Estate purchase, my primary residence. I bought the property long ago and still live there, but had I known then what I know today about Real Estate, I would not be living there. There were lots of things that I should have considered about the property that I did no. Like how busy is the street, which way is the city growing, what is the curb appeal, does it have a view, how is it affected by drainage, and lot's more.
We bought the lot first and built the home later. As a relatively inexperienced Real Estate buyer I didn't have the project entirely planned before I started. We bought the lot and then planned the house around the lot. I probably would have made some different choices if had been buying a completed home.
Twenty-Five years later, we still live there, so I guess it wasn't all that bad, but I see lots of things now that I did not see back then.