Introduction
Even experienced families fall into traps when investing in real estate. Here are 10 common — and avoidable — mistakes.

1. No Written Strategy
Without an IPS, families chase shiny objects.

2. Overconcentration in One Market
Geographic diversity reduces downside risk.

3. Blindly Trusting Sponsors
Always vet operators, no matter the referral.

4. Ignoring Tax Structuring
Missed 1031s, DSTs, or bonus depreciation can cost millions.

5. No Succession Plan
Real estate assets are hard to divide without planning.

6. Underestimating Property Management
Operations matter — a lot.

7. Holding Too Long
Not knowing when to exit can erode returns.

8. Buying for Emotion, Not Strategy
Legacy is important, but needs boundaries.

9. No Reporting or KPIs
What you don’t measure, you can’t manage.

10. Decision-Making Bottlenecks
Too many approvals lead to missed deals.

Conclusion
Learn from other families — avoid these pitfalls and build with intention.