How to Lose Money in Real Estate: Our First Mistakes | Hoosier Homes & Hustles Ep. 4

Key Topics Covered:
1. Jessica’s Mistake: Not Using Dynamic Pricing Tools

Jessica’s first short-term rental in Indianapolis taught her a costly lesson. Without a dynamic pricing tool, she underpriced her property during the 2022 College Football National Championships, missing out on significant revenue.

What She Learned:
Dynamic pricing tools like PriceLabs are game-changers, accounting for local events, seasonal trends, and market demand.
The cost of these tools is minimal compared to the income they can generate. One well-priced weekend can cover the annual subscription!
Relying solely on built-in pricing tools from platforms like Airbnb and VRBO may result in underpricing your property.

Takeaway: Invest in a professional dynamic pricing tool to optimize revenue and save time.

https://pricelabs.co/users/sign_up?re...

2. Stacy’s Mistake: Letting Fear Stop Her First Investment

Stacy shares the story of walking away from a ranch-style home in Avon, Indiana, because of inspection findings and other concerns. Despite the issues, it turned out to be a missed opportunity with massive potential gains.

What She Learned:
Real estate investing requires balancing caution with confidence.
Many inspection issues can be addressed, and the long-term benefits often outweigh the short-term hurdles.
Time in the market matters more than timing the market. The property she passed on gained over $110,000 in equity and offered additional opportunities for income.

Takeaway: Don’t let fear or minor issues derail long-term gains. If the numbers work, trust the process and think long-term.

Key Lessons for New Investors:

Don’t Let Small Issues Derail Long-Term Gains
Address repairable problems and focus on the bigger picture. Real estate appreciates over time, making early action critical.
Take Action – Don’t Overanalyze
Overthinking can paralyze you. No investment is risk-free, but often the greatest loss comes from waiting too long to act.

This Advice Isn’t Just for Investors
First-time homebuyers also benefit from taking action rather than waiting for the perfect property. Understand what it takes to make a homework for your needs and avoid letting opportunities slip by.

Closing Thoughts:
Jessica and Stacy remind listeners that every mistake is an opportunity to learn and grow. Whether you're starting with short-term rentals or buying your first home, the key is to keep moving forward.

Engage with Us:
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Share your own investing mistakes in the comments—we’d love to hear your stories!
Let’s hustle smarter, together. See you next time!

Connect with the hosts:
Instagram: / hoosierhomeshustles
Instagram: / stacyprestonrealtor
Instagram: / journeywithjess89

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Produced by: Keith Williams from @ourdinnerpartypod
Lighting: Noah Preston