HOW I LOST $100K IN REAL ESTATE

In this episode of The Property Challenge Podcast, host Terrica Lynn Smith shares her personal journey through the ups and downs of real estate investing, focusing on a significant lesson learned from a challenging restaurant venture.

Terrica opens up about how she lost over $100,000 while trying to create a rooftop restaurant and lounge in Lafayette, Louisiana. She discusses the pitfalls of jumping into a business without the necessary experience, the importance of having the right partners, and the critical need for due diligence in any investment.

From navigating the complexities of restaurant management to dealing with unexpected challenges like high rent, food margins, and difficult partners, Terrica's story is a cautionary tale for aspiring investors. She emphasizes the importance of staying in your lane and knowing your strengths, encouraging listeners to focus on what they do best in the world of real estate.

Join Terrica as she reflects on her experiences, shares valuable insights, and inspires you to learn from her mistakes. If you're considering a venture outside your expertise, this episode is a must-listen!

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