Real Estate Investing Mastery Podcast

To protect himself against a worst case scenario, Shane Garza from Shane the House Buyer had built in a $10,000 contingency plan to replace an aging septic system. But replacing the septic system in a 1962 house is actually not the worst scenario you can find yourself in when you skip the due diligence. Imagine having no septic at all, including no tanks, no way to hook up to a city sewer, and soil tests that prohibit you from putting in a septic system.After concluding that the only way to fix the problem was to purchase the house next door for $200,000, Shane received a little mercy from another investor. Shane talks about the lessons learned from this septic debacle, including why local networks and local hard money lenders can help you avoid these pitfalls.He recommends that newer investors get in the back seat and go along for the ride until they feel comfortable. Use those local relationships to find mentors who will steer you away from expensive mistakes. And whatever you do, don’t skip the seller’s di