Most real estate investing books extol passive income and other advantages of owning an investment property. But as any experienced landlord knows, real estate investing doesn’t always mean successful deals and passive monthly rent collection. Sometimes, units stay vacant for months, maintenance costs soar higher than profits, or tenants must be evicted through an expensive legal process.
Phil Pustejovsky seeks to help investors understand this risky side of real estate in his book – Real Estate Investing Gone Bad: 21 true stories of what NOT to do when investing in real estate and flipping houses
The author is clear up front that he’s not trying to scare anyone away from investing in real estate. Instead, he encourages investors to exercise intelligence and caution in making real estate deals and to get help from professionals when needed. Drawing from the extensive network of real estate investors he’s acquired through his mentoring program and popular YouTube channel, Pustejovsky compiled stories of unfortunate real estate deals and narrowed them down to the ones that illustrate the most significant losses and most crucial lessons to include in his book.
Moving through the material at an efficient and attention-grabbing pace, each chapter of Real Estate Investing Gone Bad tells the story of an investment deal that went awry, then follows with commentary from the author about the investor’s mistakes and what they should’ve done differently. The cost of these deals gone bad adds up to millions of dollars and immense time, effort, and stress for the parties involved.
While some readers may find that it’s too strong a plug for his mentoring program, Real Estate Investing Gone Bad is filled with vital cautionary tales and disaster-averting strategies. The book approaches the topic of real estate investing from a fresh, more realistic perspective and the stories are enjoyable to read and educational. Pustejovsky’s harrowing tales remind new and experienced investors alike of the dangers of unfounded trust and failing to do your research.
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