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Only purchase properties that you like and will enjoy owning. Of course, it should be a good investment on paper and in reality; however, you should not purchase a property that you dislike simply because the numbers are good. You are sure to have a bad experience and be unhappy with it. Decide whether any purchase is going to be a long-term or short-term one in advance. This will allow you to develop your budget for the property. If you are going to purchase a house that is called a "fixer-upper", you need to be able to afford repairs in order to make money on the renovated home. If you are purchasing a home for yourself and plan to spend some time in it before selling it, you will be able to put more into repairing and improving the home. When you just get into investing properties, you should communicate with other local investors. You can learn a lot about the market and ways to get more out of your property investments. Check online to see which groups are close to your location, or join an online real estate investment forum. Thoroughly investigate http://mcknightdickey6.webgarden.com/section-1/mcknightdickey6-s-blog/investing-isn-t-too-hard-to-get when you are investing in rental properties. Untrustworthy individuals could cause damage to your property. A background check cannot guarantee that your tenant will be trouble-free, but it will minimize the risk. Think cautiously when getting involved in real estate investment. Don't look at a property for how much money it can make you. Instead look at it at how much of your money it will let you keep. You want the property value and rental income to maintain the overall investment of your portfolio that you put into it. Remember that you will want to hang onto some of your best investment properties to insure continued income as you age. Real estate investments are an excellent hedge against inflation during retirement. 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