Episode 139: The BID Academy Podcast: #1 Mistake Real Estate Investors Make (And How to Avoid It) with Dr. Jennifer Salisbury
Summary
I love having guests on the show! They expand my thinking and make my mind stretch. I also love guesting on other peoples’ shows, making them think, and hopefully, making their mind stretch too. On today’s show, I am the guest on the BID Academy Podcast, where Alex Thoric and talk about real estate mistakes. In fact, we talk about the #1 mistake new real estate investors make, and how to avoid it. I hope I stretch your mind!
Listen to the full episode :
This Week’s Blog Post:
From Navy Reactors to Real Estate Real Talk
Hi friends! I’m Dr. Jen, and today’s episode is a fun twist—I’m flipping the mic as the guest on The Bid Academy Podcast hosted by Alex Thoric. You might remember Alex from Episode 119, where we talked about marketing with AI. In this episode, we dove into one of the most important questions for real estate investors: What’s the number one mistake people make—and how do you avoid it? We also chatted about my transition from the U.S. Navy to real estate and what it means to think like an investor instead of just a real estate agent.
Agent vs. Investor: It’s a Mindset Shift
One of the key takeaways we explored was the difference between a real estate agent and a real estate investor. An agent is a transaction service provider—focused on completing deals. But becoming an investor means adopting a strategic, long-term mindset. You stop thinking in terms of “Can I?” and start thinking in terms of “How can I?” It’s a huge mental leap, and it affects everything from how you look at properties to how you manage your money.
Investing Across Borders Requires Strategy
We also got into the complexities of investing internationally, especially for Canadians investing in the U.S. The biggest mistake? Not consulting the right advisors. Without careful tax planning, you could end up paying both CRA and IRS taxes on the same income. Mike and I spent years structuring our portfolio to avoid double taxation, and we leaned heavily on accountants, lawyers, and real estate-savvy advisors. My advice: make sure your team is playing chess—not checkers.
Education is Key—But Don’t Get Stuck There
Another golden nugget: while education is essential, you can’t stay stuck in learning mode forever. At some point, you need to throw out offers, talk to lenders, and have those awkward but necessary conversations. You don’t need 20% down or a perfect credit score to get started. You just need to act—and be open to learning through doing. There’s no substitute for experience in this game.
Building a Timeless Education Library
I also shared how I’m building a podcast library that doesn’t expire. My goal is to provide templates, tools, and episodes that help landlords and investors at every stage—whether you’re in Ottawa, California, or Maui. I’m releasing location-specific episodes starting June 3, 2025, covering regional tenancy laws and what to do with abandoned items. It's all about helping you understand how rules vary across jurisdictions, and how to navigate them confidently.
This episode was recorded from Maui, Hawaii. Why? Because real estate takes you places. Where do you want real estate to take you? Join me next week for Episode 140, where I’ll introduce the next ten location-specific episodes launching soon. See you there!