Mistake 1: Paying too much for a real estate property. Investors should be able to buy a house with 25% - 40% of equity in the deal at the time of purchase.

Mistake 2: Often times investors will over-rehab the property and spend too much money on fixing it up, which erodes profit and the ability to buy more deals in the future.

Mistake 3: Investors fail to negotiate sometimes. Its best to ask for an offer and provide options to your seller or buyer.

Mistake 4: Whole sale investors should make $5-$7K per deal. The business is about volume not big pay days on every deal.

Mistake 5: Buying properties in the wrong area. The cheapest area is not always best. Often times the cheap house an upcoming area is the better choice.

Mistake 6: Buying unmanageable properties can kill the ability to get in get out and get paid. Its important that you evaluate the resources required to move the property before you buy.

Mistake 7: Failing to differentiate your business from the competition. The market and customers shoud always see your business as an honest, fair business with integrity.