Want To Own Rental Properties? Ask Yourself Four Questions First

Want To Own Rental Properties? Ask Yourself Four Questions First

Want To Own Rental Properties? Ask Yourself Four Questions First

By / Investing / Friday, 01 February 2019 05:49

Owning real estate to build wealth is a tangible dream for many investors: They figure they can find a broker, buy a few properties, sit back and collect rents. Or perhaps they could flip properties for a quick profit. But the reality of owning rental properties and trying to sell them at a gain is far different from the dream. Being a landlord is much harder and riskier than it seems.

Many property investors start out thinking they can manage their own real estate investments, overlooking one simple fact: the skills that brought them wealth aren’t likely to bring them success in real estate. Being a banker, lawyer, doctor or other business owner gives them the funds to invest, but not necessarily the knowledge to make sound decisions about those investments — let alone the time and know-how to execute. As Bill Gates once said, “success is a lousy teacher. It seduces smart people into thinking they can’t lose.”

 

Read more at Forbes.

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NexPro Media Staff

NexPro Media Staff

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