Investment properties on the brain? Here are 3 mistakes to steer clear of:
1. Not running the numbers first: Always, always do a cash flow calculation first to determine the ROI you can get from the property.
2. Not working with a real estate agent: Don’t underestimate the work that goes into a real estate deal! Take advantage of the support and expertise an experienced agent can provide.
3. Glossing over maintenance costs: You’ll need to set aside at least 2-3% of the property value every year to account for repairs and maintenance needs.
If you’re looking to dive into real estate investing, let’s chat! We would love to help you reach your goals.
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