Investors in all fields will tell you that the key to success is knowledge. Real estate investing can reap great returns, but not if you buy the wrong properties. Read on to learn some great advice about getting started in real estate.
Always do your research, check out locations, and know about the market that you are getting into. Investigate as many as 100 individual properties in that area; track your notes with a spreadsheet or database. Important qualities to weigh are expected rent, current prices and repair budgets. This will help you decide what deals are the best.
Once you are sure that your investments will be in real estate, you should set up either an LLC or a similar entity. This ensures that your investments will be protected. In addition, you will be able to qualify for tax benefits as a result of your business dealings.
Never purchase …