Property Investment Basics that Lead to Sound Decisions
Once you have come to realize the type of property that makes a good investment for you, there are still more to property investment basics to consider. If you ask yourself the following questions, you are bound to master the essentials involved.
Is Your Credit in Order?
If you are thinking of getting into real estate investing, you must ensure your credit report is in good standing. This affects how much financing you will be able to get, so if you don't want to tie up your own money, you need to make sure you can qualify for an investment property loan.
Are You Familiar With Property Investment Strategies?
There are several possible property investment strategies, and you should have a solid plan on how you intend to earn on your investment long before you choose a property or try to get a loan.
Do You Know Where to Turn for Help?
The investment strategy you choose will determine the kind of contacts you need in your inner circle, but typically, you can benefit from developing working-relationships with lenders, real estate agents, and contractors who can do maintenance work or repairs on your properties.
Are You Sure You're Getting a Good Deal?
Finally, be sure to evaluate how long it would take you to realize a return on your investment. Remember to offset tax benefits from the carrying costs and expected maintenance expenses for longer-term holding strategies.
How to Find a Good Property Investment - Liz Pulliam Weston, MSN
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