3 Pitfalls to Avoid When Playing in the Real Estate

3 Pitfalls to Avoid When Playing in the Real Estate Game

So youve seen your umpteenth infomercial with the guy in his neatly pressed button-upped white T-Shirt grinning ear to ear waving his rock-solid no-money-down rags-to-riches real estate investment course for 3 easy payments of a gazillion dollars (but only if you call now) and now you are thinking, “wow this looks like a great deal, I better get it fast before the special offer expires.” You notice how theres always a special offer? Anyway, I am not saying this guy isnt telling the truth, however regardless of which course or school of thought you buy into there are several key areas that one must avoid when engaging in any real estate related transaction.

Pitfall Number 1: Dont Overpay!

The whole point in investing is to find properties that are undervalued. How does one find out what is undervalued versus overvalued? Without getting into technical details, the bottom line is you need experience. Yes much like shopping for anything else, real estate is essentially one of the highest ticket items in the shopping center of life. Its advisable to stick with one market, perhaps the one...