Even smart investors make mistakes. Here are three common mistakes and what you should do instead:
• Not Doing Your Homework. Evaluate your financial situation and understand the right numbers to calculate. Learn the basics about cash flow, appreciation, and loan amortization.
• Not finding the right property. Do a thorough search, including “off MLS” deals and best buys, to find the right property for you. Work with a REALTOR® who is an Investor Specialist. He or she can help find a good investment property.
• Failing to get a professional inspection. You need to know if there have been problems with the property and that they’ve been properly addressed.
To learn more about owning investment property, get our Free Consumer Report called “How To Avoid 8 Mistakes Even Smart Investors Make.” Email us at [email protected] and we’ll gladly send a copy to you.