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Real Estate Investing Lessons: What I Wish I Had Known Before My Biggest Investment
Real estate investing is often portrayed as one of the best ways to build wealth—but what happens when a project doesn’t go according to plan?
In this honest and deeply personal solo episode, Michelle Perkins shares the story of a three-year real estate investment that ultimately resulted in a financial loss. More importantly, she reflects on the invaluable lessons she learned about investing, partnerships, decision-making, trust, and knowing when it’s time to let go.
Whether you’re investing in real estate, starting a business, or making any significant financial decision, this episode offers practical wisdom about balancing financial logic with personal values—and recognizing that sometimes the greatest return comes from the lessons learned.
In This Episode
Why walking away isn’t always failure
Michelle shares why she ultimately decided to sell the property at a loss, despite the possibility that holding it longer could eventually have produced a profit.
Sometimes preserving your peace of mind is worth more than maximizing every financial opportunity.
Financial decisions aren’t always mathematical
While spreadsheets may suggest one answer, life circumstances, emotional energy, risk tolerance, and personal priorities all deserve a place in major financial decisions.
Trust the process—but verify the people
One of the biggest lessons from the project was learning that trust should never replace sound business practices.
No matter how well you know someone:
- Get agreements in writing.
- Establish clear decision-making processes.
- Document budgets and changes.
- Treat every investment like a business.
Why partnerships require difficult conversations
Successful partnerships don’t happen because everyone gets along.
They happen because expectations, responsibilities, and conflict-resolution processes are discussed before problems arise.
Listen to your intuition
Throughout the project, Michelle experienced moments when something didn’t feel quite right—but chose to defer to others with more experience.
Looking back, she recognizes that those instincts deserved more attention.
Be actively involved
One of the strongest lessons:
Don’t assume someone else is watching every detail.
Whether it’s a renovation, investment, or business venture:
- Ask questions.
- Visit the project.
- Stay informed.
- Understand what’s happening yourself.
Key Takeaways
- Every investment carries uncertainty.
- There isn’t always one “right” financial decision.
- Acceptance is an important part of investing.
- Good documentation protects everyone.
- Partnerships require communication—not assumptions.
- Your intuition deserves a seat at the table alongside financial analysis.
- Sometimes the greatest investment is the education you gain.
Memorable Quotes
“Sometimes you simply have to accept the loss.”
“There isn’t always a right or wrong decision—there’s simply your decision.”
“Trust the process, but don’t assume everyone will make the same decisions you would.”
“Responsibility is more important than simply staying positive.”
Lessons for Real Estate Investors
Michelle’s biggest recommendations include:
- Treat every investment as a business.
- Create written agreements before work begins.
- Define how decisions will be made.
- Monitor budgets closely.
- Spend time at the project site.
- Ask lots of questions.
- Talk to multiple experts—not just one.
- Stay connected to your original investment goals.
- Remember that markets, timelines, and circumstances change.
Topics Discussed
- Real estate investing
- Property renovation
- Investment partnerships
- Risk management
- Decision-making
- Trust and accountability
- Money mindset
- Financial acceptance
- Entrepreneurial lessons
- Learning from financial setbacks
Resources Mentioned
Michelle references previous Money & You episodes featuring experienced real estate investors and encourages listeners interested in investing to explore those expert interviews for additional education and perspective: Episode 197 with Joel Miller, Episode 182 with Laura Pozarny, Episode 176 with Janine Mix, Episode 160 with Jennifer Beeston.
She also invites listeners to schedule a complimentary Virtual Coffee Chat through the Limit Free Life website to discuss financial questions or major money decisions.
Connect with Michelle Perkins
If this episode resonated with you:
- Subscribe to Money & You on your favorite podcast platform.
- Watch full episodes on the Limit Free Life® YouTube Channel.
- Share this episode with someone considering a real estate investment or business partnership.
- Leave a rating and review—it helps more people discover the show.
Listener Reflection
Before making your next major financial decision, ask yourself:
- Have I clearly defined my ultimate goal?
- Am I making this decision based on my values—or someone else’s expectations?
- Have I asked enough questions?
- Have I balanced trust with appropriate business safeguards?
- If circumstances change, am I willing to adjust my plan without viewing it as failure?
Sometimes the most valuable return on an investment isn’t measured in dollars—it’s measured in wisdom, confidence, and the decisions you’ll make differently the next time.
For more tools and conversations about money mindset, practical financial tips, confidence, and financial empowerment…
Subscribe to the “Money & You With Michelle Perkins” Podcast:
https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575
Please rate, review, and share the show with friends and family who want to feel more confident and in control of their financial lives — it really helps us!
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Learn more about Michelle Perkins & Limit Free Life®: https://limitfreelife.com
Have a money or career question? Book a free virtual coffee chat with Michelle: https://limitfreelife.com/booking/?utm_source=chatgpt.com
Instagram: @livealimitfreelife
YouTube: The Limit Free Life Channel
https://www.youtube.com/@michelleperkins-limitfreel2446