60: Our 2022 Real Estate Regrets and How You Can Benefit From Them

Home buyer’s remorse, low interest rate dreams, and not taking a second look at a property. These are some touchy subjects for real estate investors who had wins but also big losses in 2022. While real estate investing is one of the best ways to grow generational wealth, it still has its home-induced headaches, either from going over budget on a project, waiting too long to buy, or doing the wrong rehab. But don’t get down if you made any of these mistakes. Our expert investors have done the same! Welcome back to On the Market. In today’s show, Dave, Henry, James, and Kathy, talk about the biggest real estate regrets and mistakes made in 2022. This show proves that even if you’re experienced, you can still fall prey to making mistakes and losing hundreds of thousands of dollars doing the wrong deals. But this isn’t all doom and gloom. The cast shares lessons learned from these big mistakes so listeners like you can avoid these money-hemorrhaging life lessons the next time they pop up in your life. We also talk about some of the biggest mistakes across the news in 2022. These span from the FTX crash and SBF’s fall from grace, the crypto slump of this year and last, and why so many buyers were caught off guard by the almost unprecedented interest rate hikes of earlier this year. Tune into this episode, and stick around for next week’s as we give a glimpse at what we’ll be doing to build even more wealth in 2023! In This Episode We Cover Knowing your numbers and how going over budget on a renovation is easier than most people think Interest rate nostalgia and why locking down a low rate beats a better home price Permitting hold-ups and how avoiding a site visit could cost you hundreds of thousands The FTX crash and crypto’s demise over the past two years (and what caused it) 2023 mortgage rate predictions and whether or not we’ll see four percent rates within the next year Why every great real estate investor has a bad contractor story And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Forums BiggerPockets Agent BiggerPockets Bootcamps Join BiggerPockets for FREE On The Market Join the Future of Real Estate Investing with Fundrise Connect with Other Investors in the “On The Market” Forums Subscribe to The “On The Market” YouTube Channel Dave’s BiggerPockets Profile Dave’s Instagram Henry's BiggerPockets Profile James' BiggerPockets Profile Kathy's BiggerPockets Profile Henry's Instagram James' Instagram Kathy's Instagram How to Deal With Regret in Real Estate Biggest Red Flags of a Bad Contractor Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-60 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices