{"id":2696,"date":"2021-12-23T07:01:20","date_gmt":"2021-12-23T12:01:20","guid":{"rendered":"https:\/\/weitzrealestate.com\/?p=2696"},"modified":"2022-02-10T14:28:40","modified_gmt":"2022-02-10T14:28:40","slug":"dont-buy-losers","status":"publish","type":"post","link":"https:\/\/weitzrealestate.com\/blog\/dont-buy-losers\/","title":{"rendered":"Don&#8217;t buy losers"},"content":{"rendered":"\n<p>Warren Buffets number one rule is pretty simple: <em>Don&#8217;t lose<\/em> <em>money<\/em>. <\/p>\n\n\n\n<p>I have learned a very important lesson over the years that is quite similar to Buffet&#8217;s investing advice, just tailored a bit to real estate: <em>Don&#8217;t buy losers<\/em>. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/weitzrealestate.com\/wp-content\/uploads\/2021\/12\/Angry-683x1024.jpg\" alt=\"\" class=\"wp-image-2698\" width=\"272\" height=\"407\" title=\"\" srcset=\"https:\/\/weitzrealestate.com\/wp-content\/uploads\/2021\/12\/Angry-683x1024.jpg 683w, https:\/\/weitzrealestate.com\/wp-content\/uploads\/2021\/12\/Angry-200x300.jpg 200w, https:\/\/weitzrealestate.com\/wp-content\/uploads\/2021\/12\/Angry-768x1152.jpg 768w, https:\/\/weitzrealestate.com\/wp-content\/uploads\/2021\/12\/Angry-1024x1536.jpg 1024w, https:\/\/weitzrealestate.com\/wp-content\/uploads\/2021\/12\/Angry.jpg 1365w\" sizes=\"(max-width: 272px) 100vw, 272px\" \/><figcaption>Buying a loser property will leave you feeling like this<\/figcaption><\/figure>\n\n\n\n<p>My former partner and I unknowingly bought a &#8216;loser&#8217; house in Wake Forest once. The Realtor that sold it to us did a very poor job valuing the house properly. Long story short, after many months of trying to sell the house (this was a flip property), we finally sold it at a $42,000 loss. Ouch. <\/p>\n\n\n\n<p>On the other hand, buying winners can leave you in a great position. In a worst case scenario, a &#8216;winner&#8217; will let you get out from under the property without losing your shirt in the process which is always a great fail safe. Ideally, you can freely get out from under the property while making profit. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/weitzrealestate.com\/wp-content\/uploads\/2021\/12\/Happy-683x1024.jpg\" alt=\"\" class=\"wp-image-2699\" width=\"299\" height=\"448\" title=\"\" srcset=\"https:\/\/weitzrealestate.com\/wp-content\/uploads\/2021\/12\/Happy-683x1024.jpg 683w, https:\/\/weitzrealestate.com\/wp-content\/uploads\/2021\/12\/Happy-200x300.jpg 200w, https:\/\/weitzrealestate.com\/wp-content\/uploads\/2021\/12\/Happy-768x1152.jpg 768w, https:\/\/weitzrealestate.com\/wp-content\/uploads\/2021\/12\/Happy-1024x1536.jpg 1024w, https:\/\/weitzrealestate.com\/wp-content\/uploads\/2021\/12\/Happy.jpg 1365w\" sizes=\"(max-width: 299px) 100vw, 299px\" \/><figcaption>Buying a winner will leave you feeling like this<\/figcaption><\/figure>\n\n\n\n<p>The best advice I can share with anybody looking to invest in real estate is to take your time, do proper due diligence, and don&#8217;t buy a loser. In other words, don&#8217;t buy real estate for the sake of buying real estate. Only buy real estate as a successful, long term investment in an appreciating area. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Warren Buffets number one rule is pretty simple: Don&#8217;t lose money. I have learned a very important lesson over the years that is quite similar to Buffet&#8217;s investing advice, just&#8230;<\/p>\n","protected":false},"author":3,"featured_media":2697,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/weitzrealestate.com\/wp-json\/wp\/v2\/posts\/2696"}],"collection":[{"href":"https:\/\/weitzrealestate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/weitzrealestate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/weitzrealestate.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/weitzrealestate.com\/wp-json\/wp\/v2\/comments?post=2696"}],"version-history":[{"count":0,"href":"https:\/\/weitzrealestate.com\/wp-json\/wp\/v2\/posts\/2696\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/weitzrealestate.com\/wp-json\/wp\/v2\/media\/2697"}],"wp:attachment":[{"href":"https:\/\/weitzrealestate.com\/wp-json\/wp\/v2\/media?parent=2696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/weitzrealestate.com\/wp-json\/wp\/v2\/categories?post=2696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/weitzrealestate.com\/wp-json\/wp\/v2\/tags?post=2696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}