Purchasing an investment property can be a really great financial opportunity—or it can be a nightmare. To make sure you end up with the former result instead of the latter, follow these simple dos and don’ts before you buy your investment property.
1) Do your homework
Research the property market, tax breakdown, and standard rental rates in the area. Make sure you do a number crunch to ensure that the rate you will have to rent your property at will be enough to cover all the expenses that will come with your property—including any repairs that may crop up.
2) Don’t get emotionally involved
Don’t get emotionally or personally invested in your building. Keeping yourself detached and professional can ensure you are always making the best…
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