After two decades of investing in real estate,🏠I’ve come to realize these truths:
➡️Purchase price is critical if you want to make money.
➡️Quality tenants matter more than raising rents.
➡️Appreciation is nice, cash- flow is better.
➡️Don’t neglect saving for CapEx. Keep a cash cushion.
➡️One vacancy can derail a whole year’s profits.
➡️Leveraging a property manager’s expertise is an underrated way to keep your sanity.
➡️Location is more important that you think.
➡️ Tax advantages should be considered when evaluating whether or not to invest in rentals.
Real estate investing requires a strong stomach, but it is a proven way to build long-term wealth.