This Content Is Only For Subscribers
Look at more properties.
Take your time. There is more than one good deal. Too many people buy because they believe the deal they have found is the only deal in the world.
Analyze the rental market as well as the purchase market.
Talk to more than one real estate salesperson.
Be careful of investing in condominiums. Condominiums more often have a board o directors made up of homeowner. Homeowners and investors do not always see eye to eye. Most homeowners want to keep their property nice, to keep up our property, an investor loses control over that every important area of investing, the area of expense control.
If expenses are out of control that also affects the future sales price of the property.
Never buy expecting the price of the property to go up. The property should be a good investment in good economy and in a bad economy. Your profit I made when you buy not when you sell.
Do not invest emotionally. When you buy your own personal investment. It is okay to get emotional. When you buy a properties for investment purpose, can blind you.
One of the ways you can make a lot of money is by having control over changing, modifying or improving the value of their property, something you cannot do with stocks or mutual funds. Many times, just adding a garage or an extra room can greatly multiple your return on investment.
Person need to learn from the experience. Turn the cost of the lesson into millions of dollars if person had been willing to be humble, learn and try again. Instead, person said, you cannot make money in real estate.
