You are viewing the printer-friendly version of Smart InvestingSmart InvestingReal estate investing runs the gamut in terms of risk and investment success. You should be very careful with whom you are dealing. This is truly the first rule of thumb, even before location, location, location. Real estate is fraught with unscrupulous characters. You see a lot of them on late night television. Only hands full of those real estate gurus are legit. There are things to seriously consider if you want to jump into the real estate property game. You will need investment capital or a legitimate means of getting some. A good knowledge of the real estate market and the neighborhood you are looking to buy in. Good people skills. You need the ability to do repair work or access to people who can do it for you. You also need the name and number of a property inspector or engineer.Unless you can find and evaluate and buy homes that are either in foreclosure or fixer uppers, which can be turned around quickly, you will probably be a landlord for the property while it increases in value. Your property must be well maintained so be careful who you rent to. Legitimate real estate investing means having some money to make money, you need capital. Usually people that come into money start investing in real estate. Make sure to research your location. Go to the local town board meetings. Do research in the libraries and go on the internet to find out as much as possible, not only for the present, but about plans for the area over the next few years. aa |