Long-time Investor Rusty Tweed Shares Investment Mistakes and Lessons Learned

Start Small

“By starting with a couple of properties you can learn what to do and what not to do before you expand,” Rusty Tweed would usually say to beginning investors.

Watch Expenses

Rusty Tweed reminds property investors not to spend more than earned and tells them to create an expense list. According to him, seeing that list helps investors prioritize their current expenditures and plan for future costs. Tweed also says that utility companies will offer suggestions concerning lowering monthly bills.

Prepare for Disasters

Fires, windstorms, and accidents occur on investment properties. No one ever knows when a disaster will occur, but Rusty Tweed says to prepare for them all.

Research Locations

Rusty Tweed says, “location is everything” and offers advice on proximity to an investor’s location. Concerning this, every neighborhood has variable market values that affect real estate profits. In addition, Tweed recommends either purchasing properties as close as possible to home or hiring a property management team.

Learn Tax Laws

Rusty Tweed states that new investors could pay the price for not knowing current or relevant tax laws. Some of the advice he offers pertains to mistakes he made in the past. However, it also involves education to beginners concerning investment property tax deferrals. Tweed first learned about 1031 Exchange procedures for deferring taxes in 2004. Since then, he began teaching others his process.

About Robert Tweed

Also known as Rusty Tweed, he has assisted clients with more than 100 property exchanges. Much of this involves facilitating 1031 exchanges with the tax deferral advice he learned in 2004.

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