Tips for First-Time Investors
3 hot tips first-time real estate investors cannot afford to ignore:
1. Do your homework. As lucrative as landlording can be, it can devastate and consume if you sink funds in the wrong property.
2. Choose a prime location. Location to schools, tourist attractions, restaurants, shopping, and green spaces should be thought through. Enlist an agent's help to identify hot zip codes and neighborhoods.
3. Know the law. Sure, you’re about to rake in some cash, but you’ll also rake in some headaches if you don’t know your legal responsibilities as a landlord. Study state laws and consult with an attorney to ensure you understand.
There are many challenges to landlording, but also many opportunities. Want to find out more? We have a lot of experience and insight to share. Reach out and let's talk!