When purchasing a property, always have extra money on hand for unforeseen costs. Closing costs will include down payments and taxes. Closing costs of a home can have extra things included like school taxes or improvement bonds!
Do not purchase a home that has a fireplace in any room other than a family room. It is a real hassle to keep up with cleaning multiple fireplaces and they are rarely used anyway.
All real estate agents need to be in touch with their previous customers on the anniversary of the date they purchased their home, and certainly during the holidays. When your former clients receive a holiday card from you, they will remember how helpful your were when they purchases their home. Give them a friendly reminder that you make money through referrals, so you would be pleased if they could mention your name to others.
Make sure you stay connected with other investors like yourself. There is plenty of property, but not every piece of property is correct for every investor. This method can be useful for ferreting out investment opportunities that have not yet been snatched up by other real estate investors.
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