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Interested in venturing into the world of real estate investing? Here's a few things to consider before you begin:

Define Your Goals

Set A Budget

Consider The Location

Prepare For Potential Challenges

Are you looking for passive income? Long-term wealth? Do you want a place you can rent out and occasionally use for vacationing? Your goal will ultimately determine the best investment strategy to pursue.

How much can you afford to pay for the property? What about maintenance, repairs and other monthly costs? Have a good idea of the financials — both upfront and for the long haul — before making any moves.

Real estate is all about location. You’ll want to choose where you purchase carefully. It's important to research market data like prices, rents and booking rates. You should also consider how often you’ll need to be at the property. Will you need to pop by for repairs, or can you hire a property management company to do the work for you?

There will likely be hurdles along the way, so do your best to anticipate them. What if a tenant stops paying rent or a short-term rental guest damages your property? What if the property needs a big repair and you don’t have the cash? Create contingency plans for any issues you can think of.

If you have any questions about investing in real estate, our team is knowledgeable and passionate about helping clients pursue their real estate dreams. Reach out and we'll be happy to assist!