Mistakes to Avoid When It Comes To Real Estate Investment - Robert Villeneuve Sturgeon Falls.
As home prices and interest rates decline, investment properties become more inviting for the wise investor. Property values have adjusted by almost 25% to 60% in some regions since the peak of the market. Interest rates are steady for investor loans at 4.5% for a thirty-year fixed mortgage. Below are some possible pitfalls which may derail those plans. Plan As You Go: This is one of the most common mistakes a first time investor makes; they purchase a property because they believe they got a brilliant idea and then try to know what to do. The attitude is working backward. The best approach is to look for a plan and then look for an investment property that fits your plan. Never look for a strategy after you find a property. Get Rich Quick Scheme: Real estate investment must be a long-term course. You need to be smart and know the risk tolerance. Normal appreciation will net approximately 2 to 3% a year over time. Purchasing any property in today's real estate market is h...