Welcome back to this week's segment of the No Limit Minute for the Creative Capital Podcast. Today's episode is going to be a bit longer than usual because we are going to talk about some hard and painful lessons that I had learned along the way of getting through an investment. By sharing my experience and my learnings, I hope that I'll be able to kind of teach you guys these five key lessons from this particular investment. And hopefully, you won't end up losing the $60,000 like I did. Listen in!

5 Key Lessons of Buying a Four Plex

• Lesson 1 - Don't do it alone
  • Get a partner
  • Invest with someone with experience
• Lesson 2 - Don't get a very old house
  • Problems that came along with the house from a long time ago
• Lesson 3: FHA 203K Loan is a nightmare
  • Filing so much paperwork for 1 draw
  • Contractor nightmares
• Lesson 4: Figure out what you want in your life before investing
  • Goals are misaligned with the investments
• Lesson 5: Make sure that you have enough reserves to cover your insurance

Key Quotes:

"Align your goals with what you're actually doing in your investment." - Josh Ferrari

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