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- Identify your investment strategy
- Build a network of help
- Select properties that have underlying value drivers
- Know your governmental restrictions and requirements
- Gather and review reports, inspections, and disclosures
- Inspect the property and meet the tenants
- Underestimate the process of due diligence
- Underestimate the required operating expenses
- Get emotionally involved
- Let your rent levels fall below market value
- Employ your tenants
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When entering into any real estate deal, it is always best to hire a lawyer. The contracts and requirements of buying real estate can be overwhelming. A real estate lawyer can be the deciding factor in making sure you get not only the best deal, but also the protection you need.
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