Experience Is a Ruthless Teacher

 The second portion of the first deal’s earnings, Paul used to put money down on a property from the same seller as his first. Paul planned on making this into a rental property. However, most of the lessons that could be taught in real estate were about to come his way. From listening to bad advice, to hiring the wrong contractors (twice!), to not being thorough with initial inspections, to even having his new stove stolen the day before closing, Paul got a little taste of everything that can come your way when investing in real estate. Nevertheless, at the end of the day, the house was completed and made into a wonderful home. Due to all the difficulties, Paul was forced to sell the home instead of renting it out. While this deal lost money and cost a year of stress, Paul learned many valuable lessons through the process.