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6 TIPS FOR YOUR REAL ESTATE INVESTING JOURNEY

This is a big advantage of income properties – home buyers who buy cashflow negative properties with leverage and rely on appreciation to generate returns (which is why a lot of investors consider this speculating) can be devastated if the market takes a downturn, but properties that generate a nice cash flow every month aren’t affected.

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6 TIPS FOR YOUR REAL ESTATE INVESTING JOURNEY

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  1. 6 TIPS FOR YOUR REAL ESTATE INVESTINGJOURNEY 1.REAL ESTATEIS ALWAYS A TWISTINGJOURNEY Nothing goes according to plan. The key is to be flexible and to continue to look at opportunities aroundyou. 2. YOU DON’T LOSE MONEY TILL YOU SELL

  2. As long as you don’t sell you haven’t lost money if your rent is covering yourmortgage. This is a big advantage of income properties – home buyerswho buy cashflow negative properties with leverage and rely on appreciation to generate returns (which is why a lot of investors consider this speculating) can be devastated if the market takes a downturn, but properties that generate a nice cash flow every month aren’taffected. 3. BUSINESS; NOT ACHARITY This is a business. You MUST make money to succeed. Do not let anyone make you feel bad about being successful and making a profit. Toyota, Safeway, Target, and McDonald’s all make profit and so should you. Do not let your tenants or anyone else make you feel bad about beingsuccessful. 4. THERE WILL BE ULCER INDUCINGMOMENTS

  3. Landlording will have its moments. A tenant will leave the house a mess at move out. They will try to break their lease. You will have to stand up for your house. No one care more about your house than you do! Just don’t jump ship during the low moments. Stick will it and wait it out, as it does get better. Ah, but there will bemoments. 5. HAVE A FANTASTICALLY EXPLICITLEASE

  4. If it is not written down it does not count. The more explicit the lease the better protection andreference. 6. TAXADVANTAGES There are many tax advantages to owning rentals. From deducting all the expenses, claiming depreciation, capital gains, to being able to 1031 the rentals into a like kind exchange—there are manybenefits. FINALTHOUGHTS Owning rental property or any kind of real estate is unpredictable and can have huge volatile swings like any investment market. The key is to have a plan and stick withit.

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