Start earlier. Time is the best friend of the investor.

@Frank Contreras Most people aren't in the right mental place, whether they are young or old. But if you can show a young person the benefits and get them investing early, they get a big head start.

Rich Dad Poor Dad changed my thinking.

Welcome from Rochester NY

@Nick Masi My mom's side of the family is from Brooklyn. I also used to do some work at Morris Heights Health Center in the Bronx. Your dada should know where that is. Coincidentally, I just got off a zoom call with another investor from another community that lives in the Bronx. And @Steven P is from the Bronx. Rochester is about 6.5 hours from NYC.

Repairs in general. Unless you have contractors that you already know the prices for and you know the material costs, the cost to make ready is underestimated. Most investors don't have a realistic estimate.

@Frank Contreras It is very tough finding good contractors. That's why I had to learn to do the work myself.

In the past, having a bad tenant or not having enough reserves worried me. Now, I don't worry as much about bad tenants because I no longer take it personally. If they are bad, they get evicted. It just becomes a process. For the reserves, I played the game where I would eat up my reserves buying the next house. But my cashflow covers any expenses and I don't really need the reserves anymore. I have stopped buying for a while so the reserves do stack up now. The thing that bothers me now is the city inspections. The properties are inspected every 3 years, including lead inspections. For the most part, the regular inspection isn't a big deal. But the lead inspections can be a pain. It takes a lot of preparation for the lead inspections, mostly cleaning.