KEY REAL ESTATE ERRORS: AVOIDING THE BIG MISTAKES

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Part of life as a financial planner is having people start conversations with you by saying “you’re gonna kill me” or “you’ll think I’m crazy” when they tell me about some of the financial moves they’ve made.  They apparently think I’m like a guru on a mountaintop who wouldn’t make financial mistakes like them.  Oh, if they only knew! Well, now they will and so will you if you keep reading…

Earlier in my life, I came ever so close to messing up my finances with three bad financial decisions, all involving real estate. Just like Jordan Spieth’s 12th hole tee shot in this year’s Masters, any one of these decisions could have really blown up in my face, and I was lucky in each case to have good timing or good counsel stop me. To prove that for every Trump there is a potential chump, here are three real estate train wrecks to avoid:

1) The New House I Didn’t Need. By 2006, I knew a number of neighbors and friends who were planning to trade up from their homes to build something nicer and bigger. I felt like I was falling behind in the status department, so I let “keeping up with the Joneses” get the best of me.  I lined up money to borrow so I too could have a nice new home on the drawing board. But house prices then were accelerating like they have been lately.

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Keith Kaplan

CalBRE #01933707
Sothebys International Realty
9255 Sunset Blvd.
West Hollywood, CA   90069

keith.kaplan@sothebyshomes.com

310-646-7791

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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