Investing Mistakes That Will Cost You Thousands - Don't Do These 7 Things

"my contractor told me that this property in Detroit was going to be a great deal that we could renovate this property for about $5,000 to $5,500 and then I could either flip it for profit or rent it out and make a lot of money every single month"

"after I purchased the property I realized that the only reason my contractor wanted me to do this deal was because he needed money"

"we had to raise the elevation of the house because the city said that they didn't like the way that the house was sitting"

"if you were able to time the market perfectly and you invested your money for all of these nine decades but you did not have your money invested in the 10 worst days of every year of these 90 years well then over these 90 years you would have seen your money grow around 3.7 million per"

"if you missed the 10 best days of every year of each of these decades well now if you miss the best days you'll return over these 90 years would have only been 28%"

"if you didn't try to time the market and he just had your money in the markets for these 90 years well then your money would have grown by 17,700 per."

"when the 2008 crash happened you could see the real estate prices were getting hit very hard and when the investors were going out and buying real estate after that crash you could see real estate is very cheap just like that when the 2020 crash happened you could see that stocks were selling for very cheap and you could come in and buy even more"

"if you're investing your money in the markets just create a system we're investing every week every two weeks every month and create a set it and forget it system"

"one of my properties went vacant and it was winter time in Michigan which meant it was cold outside it's snowing and one of the things that you have to do when you live in a colder state is you have to winterize the property meaning you turn off the water in the property because if you have the water on and it's running and it's cold inside the property well then the pipes can freeze and it can flood the house"

"they didn't winterize the property the property is vacant and somehow the property manager forgot to transfer over the utilities over to their own name so there was a tenant in there they had the heat on while they were living there then they moved out and then the property manager forgot to get the heat back on and transfer to their name so now the heat is off and the water is still on"

"Diversified my money by also investing my money into stocks I Diversified my money by also investing into some physical gold I Diversified my money by also investing into startups I Diversified my money by also investing in some cryptocurrencies"

"real diversification means investing your money in different asset classes"

"The worst real estate investment deal that I've ever done and it's still the only deal that I've ever lost money on was a property that I purchased because my EXC contractor told me that it was a great deal and I purchased it based off of his words not my own research I did this deal about a decade ago it was my third real estate investment deal and my contractor told me that this property in Detroit was going to be a great deal that we could renovate this property for about $5,000 to $5,500 and then I could either flip it for profit or rent it out and make a lot of money every single month"

"I invest my money in five places Number one is my own company Business Briefs Media Number two is investment money into physical real estate Number three is investment money into stocks Number four is investment money into speculative Investments these are things like startups and cryptocurrency and Number five is I own some physical gold"

"Bank of America did a study on this they looked at the stock market between 1930 to 2020 and what they found is that if you were able to time the market perfectly and you invested your money for all of these nine decades but you did not have your money invested in the 10 worst days of every year of these 90 years well then over these 90 years you would have seen your money grow around 3.7 million per because you were able to perfectly time the market and not have your money in the market on the 10 worst days of every year but then they said if you're not able to time the market goodly and you invested your money in the markets for these 90 years but now you did timing the wrong way meaning you missed the 10 best days of every year of each of these decades well now if you miss the best days you'll return over these 90 years would have only been 28% not 3.7 million but now 28% just because he missed the 10 best days but if now you didn't try to time the market and he just had your money in the markets for these 90 years well then your money would have grown by 17,700 per."

"my passive strategy is a set it and forget it strategy where every Wednesday money is pulled out on a checking account and it's automatically invested into my portfolio of funds"

"what that means from a practical perspective is if you're investing your money in the markets just create a system we're investing every week every two weeks every month and create a set it and forget it system that way now no matter what's happening in the markets whether the markets are up or down you just keep investing your money that way you don't have to wait to find the perfect investment opportunity because the people that are waiting for the perfect time to sell when markets are high will often miss that opportunity and the people that are waiting for the perfect time to buy when the markets are at bottom will also generally miss that opportunity so instead of trying to do all that just set a set it and forget it system and then when you see the markets go down use it as an opportunity to buy even more aggressively"

"then I have an active strategy where I'm also looking to invest in individual companies and this is where I'm looking for a good opportunity if the markets crash and I see a great opportunity I will come in and buy if I see a company getting slammed or I believe it's really undervalued that I think is a good company is worth a lot more then I will come in and buy but I'm only buying when I see a good opportunity"

"for me and I don't recommend what I do to anybody else because I'm just a random guy on YouTube I invest my money in five places number one is my own company business briefs media number two is investment money into physical real estate number three is investment money into stocks number four is investment money into speculative Investments these are things like startups and cryptocurrency and number five is I own some physical gold"

"this is about 18% of my portfolio and this is where I'm investing in things like startups and cryptocurrencies these are what I consider more speculative where I know that these Investments can go right down to zero but I also believe that they have a lot of upside"

"when it comes to investing in stocks it's a little bit different because I have two strategies when it comes to investing in stocks I have a passive strategy and an active strategy my passive strategy is a set it and forget it strategy where every Wednesday money is pulled out on a checking account and it's automatically invested into my portfolio of funds these are funds that give me exposure to dividends some for Value some for Innovation some for emerging market so every Wednesday money is pulled aom my check in account and it's automatically invested no matter what's happening whether the markets are up or down if it's raining or if it's snowing this happens no matter what then I have an active strategy where I'm also looking to invest in individual companies and this is where I'm looking for a good opportunity if the markets crash and I see a great opportunity I will come in and buy if I see a company getting slammed or I believe it's really undervalued that I think is a good company is worth a lot more then I will come in and buy but I'm only buying when I see a good opportunity"

"2% of my portfolio here is physical gold I don't consider a real investment per se I consider it like owning hard money it's an alternative to holding cash because my theory is if I bury $10,000 worth of physical gold in my backyard today and I also bury $10,000 wor of cash my thinking is that in 10 years the physical gold will have more buying power than the cash because of things like inflation"

"when it comes to investing in my speculative Investments this is about 18% of my portfolio and this is where I'm investing in things like startups and cryptocurrencies these are what I consider more speculative where I know that these Investments can go right down to zero but I also believe that they have a lot of upside which is why I'm investing in them and so for me my bulk of my investments are here but I also understand that yeah I this is kind of like the fun side of things that if it goes up great if it goes down to zero I'm still okay"

"Traders can make a lot of money in the short term but in the long term Traders end up losing to the long-term fundamental investors"

"and then 2% of my portfolio here is physical gold I don't consider a real investment per se I consider it like owning hard money it's an alternative to holding cash because my theory is if I bury $10,000 worth of physical gold in my backyard today and I also bury $10,000 wor of cash my thinking is that in 10 years the physical gold will have more buying power than the cash because of things like inflation so 2% is gold for that as a diversification as a hedge and just as a type of insurance"

"if you have a 0.07% expense ratio that means after paying your fees you're going to be left with around 5.2 million"

"if you have a 0.07% expense ratio that means after paying your fees you're going to be left with around 5.2 million in your investment account but if now instead of paying 0.07% you're paying 0.85% with everything else staying the same well now you're not going to pay $110,000 in fees or $100,000 in fees or half a million dollar in fees or $750,000 in fees you're going to be paying about a million in additional fees because now you're going to be left with $4.2 million because that million dollar difference went into your money manager's pocket"

"if now instead of paying 0.07% you're paying 0.85% with everything else staying the same well now you're not going to pay $110,000 in fees or $100,000 in fees or half a million dollar in fees or $750,000 in fees you're going to be paying about a million in additional fees because now you're going to be left with $4.2 million"

"but in real estate you can do what's called a 1031 exchange which says you take all $1 million and now if you take the million dollars to go out and buy a bigger property that might be paying you more money every single year well now you don't have to pay a penny in taxes today you can keep deferring this tax bill until you die and if you do that you never have to pay the taxes"

"in real estate you can do what's called a 1031 exchange which says you take all $1 million and now if you take the million dollars to go out and buy a bigger property that might be paying you more money every single year well now you don't have to pay a penny in taxes today you can keep deferring this tax bill until you die and if you do that you never have to pay the taxes"

"this is what has destroyed so many investors even the ones that have become multi-millionaires this is the reason why so many investors will then end up bankrupt is because you stop living off of the income and you start living on the equity when you start living off of the equity this is what makes people go bust"

"let's assume that you invest your money into this thing and when you do is worth $100,000 this could be stocks it could be a business it could be real estate I don't care what it is invest your money to this thing is worth $100,000 but then the economy starts to Boom you end up finding out that this industry that you're investing in really takes off and then a few years later it's now worth $10 million"

"now what you can do is pull some cash out through a refinance because every bank is going to say Hey you have $10 million worth of equity here you're driving around in a Toyota Corolla how about you upgrade your lifestyle how about we give you a 65% loan to value debt so now you go out and pull out $6.5 million from the bank in the form of debt because you still got some equity on the table"

"and now you have many multiples more debt than what the property or this investment is worth this is what has destroyed so many investors even the ones that have become multi-millionaires this is the reason why so many investors will then end up bankrupt is because you stop living off of the income and you start living on the equity"

"live off of the income not the equity"