Real estate investing can generate a good cash flow, a cushion of equity, and generational wealth.Here are eight things I wish I knew when I invested in my first rental property.
Find a property that meets your long-term goals. Your profit margins may be less in areas with safe neighborhoods and good schools. But it may be less risky.
There are many pros and cons to property managers. Having systems in place to track your expenses, marketing, and maintenance will be key to a successful investment.
Real estate investors will need to file a tax return. Some of the language is complicated. It's best to check with an accountant to make sure you're covered.
One of the best things I can tell you is to track your income and expenses. This can be one of the most stressful aspects of real estate investing. Keep an accurate ledger to save you time, money, and stress later.