Charles Dobens opens the first edition of "Top Three in Multifamily" with a warm welcome to the audience. This weekly episode aims to provide a quick, fun conversation about various topics suggested by viewers. Charles invites ideas and topics for the top three discussions.

In this episode, Charles Dobens explores critical mistakes new multifamily investors often make. He touches on impatience in seeking deals, dispels the myth of passivity in investing, and emphasizes the necessity of treating multifamily real estate as a serious business.  

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The Top 3 Mistakes New Multifamily Investors Always Make

In this episode, Charles delves into the top three mistakes that new multifamily investors often make based on his extensive experience coaching and training clients. He begins by emphasizing the importance of patience in real estate investment, drawing parallels to Warren Buffett's approach of waiting for the right opportunities.

He warns against rushing into deals just for the sake of owning a property and highlights his own early experiences of making mistakes due to impatience. He dispels the myth of passive investing in multifamily, emphasizing that it requires active involvement. He shares examples of investors facing challenges when they assume the business is entirely passive.

Charles warns against underestimating the multifamily business as a passive venture, citing instances where investors had to step in to save deals gone awry. He introduces the concept of Viceroy Research as a resource for understanding the multifamily landscape and mentions potential pitfalls in passive investing.

Charles also stresses the need for a business-oriented mindset, introducing the idea of creating a replicable franchise model for success. He underlines the importance of building and implementing systems to run the multifamily business effectively.

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