Things You Should Know When Investing In Real Estate
Things You Should Know When Investing In Real Estate
You should have seen my stock portfolio within the last few years! Whew! The stock market is up, the stock market is down, the stock market is sideways and anything else you can think of... it's a roller coaster and yes I realize that we're in the middle of a recession that has been going on from 2008 through to 2010, but that doesn't make it feel any easier to watch your life savings fluctuate so wildly from day-to-day.
Those wild fluctuations have convinced many people to get out of the stock market completely and to instead focus on other means of investing, particularly real estate as it has been a solid income producing asset for many many years, the current recession notwithstanding.
But I find that many new investors don't know exactly what to look out for when it comes to investing in real estate so I thought I would write a quick little article today to give you a heads up and show you certain things that you can look for when evaluating a new real estate investment.
First you must always review the underlying properties of the investment very carefully. If the investment is fairly substantial, hundreds of thousands of dollars or more, it's always a good idea to find an expert to personally inspect the property as well as the community for you. There are a million things that you won't know to look for that they will so it's essential that you find someone that you're comfortable with that you can develop a good working relationship with.
Besides hiring somebody to inspect property for you, here are some things that you can look for yourself.