You’re thinking about diving in and buying an investment property. Congratulations! There are so many great things that can come from an investment like this. It’s exciting and nerve-wracking, to say the least.
Clear your mind, envision your new investment property, (manifesting) get clear on your goals and let’s dive in. Let’s take a look at 8 things you need to consider as you think about your first or next investment property.
Before investing in a rental property – it is essential to start from sound financial footing. There is a high transaction cost to buying and selling real estate. If you are not in a good financial position, you may be tempted to sell your investment in a year or two.
While many people see purchasing a single-family as a steppingstone into multi-family, that is not necessarily the case. If you want to focus on multi-family apartments, it is possible to start with them directly.