11 biggest mistakes I made my first year as a real estate investor. Want to invest
in real estate and make millions like Noelle does?
Well, I made a ton of mistakes that stopped me from making the money that I am making today.
I'm going to share them all with you so you do not have to go through what I went through. Let's go.
I'm going to share with you my three biggest mistakes that I made that cost me time and money.
I'm going to share with you the mistakes that I made that my students still make even after
I tell them not to do it so you don't do it. And last but not least, I'm going to share with you
how to avoid all of the traps that are out there that stop people from having success. So,
when I started investing in real estate, my first full year, I made over $400,000 as a real estate
investor. It was absolutely amazing to me. I did not realize how much more money I could make
working this business full time instead of trying to do it as a side hustle having a full-time job.
Now, I get it. Many of us will start investing in real estate with a full-time job but I'm here to
tell you that first full year when you quit that job and you do it full-time and you give your
business all of your time, all of your energy, and all of your efforts, it's amazing how much more
money you can make on your own instead of working for someone else. But first, I got to share with
you all of the mistakes that I made so that you do not make any of them. So, number 11. This was the
mistake that I made that cost me so much money and that I tell my students not to do. I was
only doing one deal at a time. So, in other words, my coach had taught me wholesaling. Just to kind
of give you a little bit of color. He had told me to find people that were having property problems
very specifically that they were behind on their mortgage payments and they were facing
foreclosure. It was really easy because at the time it was 2009-2010, I was back in my parents'
basement living in Bloomfield, Connecticut. And I was finding that there were tons of people
that were in the foreclosure process that I had just finished with and ended up in my parents'
basement. So, I felt like I could go find these people pretty easily and he gave me some amazing
scripts and tools to do that. Some of which I share with you absolutely free. Make sure you
check out all of my videos in the playlist that I have on real estate investing. But the lesson
here is I started doing just one deal at a time. So, as I was marketing and finding people that
were behind on their mortgage payments, I would start working with that person then I would get
them under contract, then I would get it with the investor then I would get paid from the investor,
we would close the deal and then I would start that process all over again. I was not working
multiple deals at the same time. I really felt like, "Oh, man. I am scared. I don't know what
I'm doing. So, I only worked one deal at a time." And that was a big mistake. You should never turn
off your marketing. You should always be taking new leads. And one of the things that I learned
is my next deal was better than the one that I had right now. Just keep finding new deals. Number 10,
I would get stuck on a lead. Okay, we have all had this happen to us where we have a lead,
someone that is interested in our product or our service, and we keep calling that person,
we keep following up, that's all we think about, that's all we talk about. We just want this one
deal to come through. That is a big mistake. And I wasted so much time talking to the same lady
over and over again. You know, she was behind on her payments and then I was just dealing with her
and I was calling her and I went, "Will I get to see your house?" and I'm going to come over,
I'm going to send someone over there. All of this time, I spent on this one lead. Do not get stuck
on one lead. That was just a big mistake of mine. I should have been talking to multiple people and
not really getting so stuck on this one person. Yes, I care if the lead comes through and turns
into an actual deal but do not get stuck on that one person and start holding on. Find other deals,
find other leads, and work more than one lead in one deal at the time. Don't get stuck. Number 9,
I visited way too many properties. In real estate investing, you are going to get all types of deals
all types of addresses people send to you. And every time someone sends you an address saying
that they have a house, that is not a deal. Just because someone sends you an address does not mean
you need to get in your car and drive over to that address and start working on trying to make that
a deal. An address is just an address. It is not a deal. You do not have to drive to every single
property and go see every address that people send you. It's not necessary. We have a great
technology in this century that we live in, okay? You can use your computer and do all of this from
home. You can send other people to the property for a very small fee and have them take pictures
and videos. You do not need to spend all of your time driving to all of those properties. That is a
big mistake. Number 8, not enough outgoing calls. Oh, yeah. I loved when people called me and I made
sure that I answered my phone most of the time. But I dreaded making outgoing calls. So, sometimes
if someone left me a message or left a voicemail, I was sometimes not really good at calling them
back or making outgoing calls. That was a really big mistake of mine. You need to get on the phone
and call people also. Don't just rely on people calling you and you answering when they call.
You're going to have to pick up the phone and call people. You are going to have to make outgoing
calls. It is absolutely okay. But now we have great technology. You don't have to call yourself.
We have auto-dialers, we have auto text, we have auto emails. You can automate so much of this
but you are going to have to make outgoing calls because you need to speak with people to get those
deals closed. Number 7 biggest mistake that I made and I see my students making all the time.
I did not call back all of my leads. Yes, Noelle made a big mistake and sometimes, I did not follow
up the way I was supposed to. Sometimes I was busy and overwhelmed and I made a big mistake of
paying for ads and paying for marketing. And then when those people called me, I did not call them
back and I didn't answer my phone. I let way too many leads go to waste because I did not do what
I was supposed to do. It is a big mistake that I see far too many people making and it is one
that you cannot have happen in your business. Make sure you call everyone back. And if you need help,
hire an assistant to call those people back. You spent money to make that phone ring,
make sure you answer the phone and call people back. Number 6 biggest mistake: No follow-up. Oh,
my gosh! How many times did I talk to a person and I was supposed to follow up but I forgot or I just
didn't? I had almost no automation in my business in the beginning and that was a big mistake
because I lost far too many leads. People would call and I had no system of following up with them
and I surely didn't have any auto replies and things like that that are absolutely free today.
So, again, if you want to learn how to invest in real estate with no money and no credit,
I have an entire playlist where I teach you this on YouTube. Make sure you check that out I'll make
sure to put a link in the description box below. But automation and following up is so important
and it was one of the biggest mistakes that I made. I could have had double the deals if I was
following up properly. Number 5, and this is going to sting a little bit. Talking to old friends. Oh,
my gosh was that a big mistake my first year as a real estate investor. I continued to talk to some
of my old friends, some of my old college friends, some of my old high school friends and it was an
absolute mistake. They would sometimes hurt my confidence or tell me things in the news or tell
me things that they heard. Stuff that really threw me off my game. Additionally, none of my
friends in high school in college were real estate investors. So, why the heck was I even talking to
them? I should have been talking and following up with my leads or talking to other like-minded
business people like myself. I needed to get new friends and I didn't. I wasted so much time,
so much energy and got so much negativity because I continued to talk to old friends. Don't make
that mistake. Number 4, I stopped attending all of the meetings. I was going to real estate investor
association meetings and conferences and seminars all the time as I was learning real estate
investing. Because I had ended up in my parents' basement and I was such a disaster as a real
estate investor, I really dived in and tried to learn it especially all of the free stuff that I
could get. But after I started doing it full time, I no longer made time to go to those meetings. And
that was a big mistake. Those meetings have other investors other people that I could do deals with,
other people that I could bring my deal to. Instead of me just going to the meeting when I
had a deal, I needed to continue going to those meetings on a regular basis. Don't just show up
when you have something. show up all the time so that you can connect with people and you can
continue learning. Don't think just because you're doing you should stop learning. That is a big
mistake. Always keep learning, always keep doing, and then start teaching it. Number 3 mistake,
I did not tell everybody. I thought that I should only tell a few people that I was doing real
estate investing. And in many cases, I kept it secret from a ton of people. I really only let
a few people know that that was what I was doing. And this was a big mistake. One of the ways that
I get deals absolutely free now is by reaching out and letting people know what it is that I do.
In fact, I get more deals and more calls that I can even handle. I have 2 cell phones now. So,
just think about this. If everyone knows what you do, they will refer deals to you all the time.
Old cousins, old friends, old co-workers. If you stay in the real estate business, you will have
old people call you back and referring you deals if you just stick with it. But one of the biggest
mistakes that I made is I didn't tell everybody what I was doing so they couldn't bring me deals.
Big mistake. Tell everybody and stick with it. Number 2, I use my own personal savings
and personal credit cards to fund everything. That was a major mistake and I'm saving this
almost to the end because I need you to stay and listen to this because this is so important.
You can use business credit and business funds to fund almost any business venture that you want.
And you can start building business credit while you still have a job. I'm not going to get into
how you do that in this video. Again, I have an entire playlist on YouTube that teaches you
how to get business credit even if you have bad credit. So, make sure that you check that out and
you start building business credit. Do not rely on your own personal savings and your own personal
credit cards to fund your business. It's a big mistake. And last but not least, this falls into
the last thing I said. I didn't build business credit. My first year as a real estate investor,
I didn't even know about business credit. I had no idea that I could be getting hundreds of thousands
of dollars in my business's name that did not affect my personal credit. I was such a disaster.
So, now that I know that, that is still the biggest mistake that I made. I could have
grown my business so much faster and quit my job even quicker if I had business credit and
business funds available to me. So, this is the biggest mistake that I tell people. Start building
business credit immediately because it will help you grow your business faster. If you need more,
I've created an entire course that teaches you my exact formula to investing in real estate with
little to no money and without using your credit. Check it out at noellesfreetraining.com. That's
Noelle (n-o-e-l-l-e-s) noellesfreetraining.com. It was a little bit too long to put up here
but I teach you exactly how to do this and it's nearly an hour-long training and it's
absolutely free. I want to make sure that you have all of the resources, all of the tools,
and all of the knowledge that you need to be successful. This is Noelle. To your success.