Nationally Known, Locally GrownFull-Service Property Management

We talk frequently at Evernest about how to build wealth through real estate, and regular readers will know that we tend to be big fans of holding investments as rentals. As much as we advocate for playing the long game, however, we know that buy & hold is not the right strategy for every deal. 

If there’s one truth about real estate investment that always bears repeating, it’s this: nothing destroys margins faster than big ticket repairs you didn’t budget for. Other things like market cool downs and vacancies will kill deals gradually, but if there’s a roof replacement or full re-wiring you didn’t see coming? It only takes a split second for your numbers to fly out the window. It may seem obvious, but major systems catch investors (especially new ones) off guard all the time, and turn seemingly great investments into bottomless money pits. That’s why we’re breaking down the big ticket items that should always be on a real estate investor’s radar. Here are the five things investors miss most often, and how to spot them before they cost you thousands.

The hoarder house is one of those phenomena in real estate with tons of misconceptions surrounding it. Some people think they’re automatic gold mines. Some people think they’re inevitable money pits. Some think that investors who buy them are taking advantage of vulnerable people. Some people see potential upside in buying hoarder houses, but are too worried about unknowns and risks to take the plunge.

Wholesalers often get a bad rap these days, and to be honest, we can understand why. A lot of the wholesale deals out there aren’t deals at all. Many are priced too high, riddled with problems, and/or backed by claims that fall apart the moment you apply any kind of pressure. However, wholesalers are also some of the best sources for finding legitimate deals. Unless you have your own marketing machine or a wiz of an investor-friendly real estate agent by your side, chances are you’ll have to rely on them eventually. So, how do you tap into this critical investment resource without getting scammed? If you’re buying rentals or flips from wholesalers, your success comes down to two things: choosing the right wholesaler to work with, and verifying every deal yourself. Read on to find out how we do both.