Six Mistakes Housing Investors Make - Investing in real estate right now can be surprisingly profitable, if everything goes well. Investors will want to avoid falling into one of these common traps:
* Mistake 1: Confusing a cheap deal for a good deal.
Homes in deserted subdivisions aren't any more appealing to renters than they are to buyers. The same is true for less-attractive properties or those in less-desirable school districts.
* Mistake 2: Overlooking key costs.
Factor in closing costs of 3% to 6%, the costs to fix up the place and maintain it, and your holding costs.
* Mistake 3: Forgetting that time is money.
You lose money when your property is empty, whether you are painting it or between tenants.
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