Podcast: How NOT to Make Money in Real Estate Investing

There’s plenty of opportunity out there for real estate investors, but there’s also a lot that can go wrong with investment deals. Allan Szlafrok, author of How Not to Make Money in Real Estate, joins us to explain what not to do when buying investment properties. Allan offers expert advice on making those crucial first steps as a new investor and covers the costly missteps to avoid. Listen and learn about raising money for property purchases, buying homes at auction, and more.

Listen to today’s show and learn:

Allan’s brief bio [3:35]
What Allan loves about investing in real estate [4:18]
How Allan started investing in real estate [4:53]
What it takes to be a real estate investor [5:45]
Why Allan decided to write a book on investing [6:18]
What How Not to Invest in Real Estate is about [6:58]
Allan’s advice on buying your first property [8:16]
Partnering on investment deals [12:47]
What NOT to do when trying to finance a property [14:32]
What mitigates risk in a real estate investment [16:02]
Where to find investment properties [17:20]
How to calculate the right offer [24:47]
Advice on setting goals for an investment portfolio [26:56]
How to vet contractors and property managers [28:34]
The biggest pitfalls to avoid as a real estate investor [29:13]
Some of the biggest mistakes Allan’s made at auction [29:57]
Why it’s important to be open with neighboring property owners [33:21]
How Allan handles property repairs in rentals [38:13]
Allan’s advice to listeners [38:42]
How to break through your goals.
Plus so much more.

Allan Szlafrok

Allan Szlafrok, a Brooklyn native who knew the borough before anyone had ever even heard of soy lattes or artisanal soap, graduated from Brooklyn College and got a master of business administration from Florida International University. His first career involved trading commodities on the floor of the New York Mercantile Exchange.

He eventually transitioned into real estate and has been involved in over one hundred deals—some successful and others so out-of-this-world, what-the-heck-was-I-thinking awful they’ve provided more than enough inspiration and material for his book. But despite the homesickness caused by some of these disastrous deals, he still has lots to be grateful for!

Szlafrok is married and currently lives on Long Island, New York.

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