There are mostly positive indicators that both the residential and commercial markets are on the move to the upside, although slow. I see that mom and pop investors are starting to make their way back into the market, and many are interested in investing out of their local area. I’d like to share a few tips that I’ve learned over the years (some of them the hard way).
I often hear this scenario from a novice investor, “I found a house for a great price online in Small Town USA, I’m so excited. I’m going to buy it and turn it into a rental and wait to CASH IN.” Good idea Mr./Ms. Novice Investor, but do you understand the market in Small Town USA? Do you know how to be a landlord? Have you visited Small Town USA?
The number one thing you can do to safeguard your investment: ALWAYS do your due diligence. I don’t use the words ALWAYS and NEVER very often, so when I use one of them I mean it. Doing your due diligence consists of things like:
Understanding the local market, where prices are and what the… Continue Reading
