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Incidentally, let me interject here something important about the real estate investors you'll want to meet. Most of them know and understand exactly what kind type of structures and tenants they are seeking for their properties. You'll see how important this can be for the small independent investor. In the real estate business, it's not always true that "bigger is better." We've been led to believe that bigger is better, but that's not the case when it comes to buying investment property, especially the first buy There's nothing wrong in buying a small one-bedroom rental home as a starter. From there you can buy another, or a duplex, or whatever comes along. The point is, it doesn't make any sense to spend a lot of valuable time looking at property that's not affordable or manageable or property that's impossible to finance. Looking at a 100-unit apartment building, or even a 20-unit apartment building, when we know we're not ready for this kind of a commitment (yet), is a waste of valuable time. The smart-thinking investor will keep it simple and look at a modestly priced duplex rather than a $1,200,000 apartment building. Regardless of the type of rental unit, Screening tenant history is an absolute must. If you think small, and smart, for properties you can afford, property that will produce enough income to make the payments, property you can manage on a part-time basis, then the chances of your getting involved in this investment business are substantially enhanced ... as are your chances of success. Thinking smart also means knowing and recognizing the fact that it takes time to accumulate wealth through equity and appreciation. In other words, the smart thinker knows an investor doesn't become a millionaire overnight. I'm not saying you can't become a millionaire, because there are a lot of common, ordinary people out there who have become millionaires in this business. What I am saying is that the smart-thinking investor knows it takes time to build a fortune As I look back to when I started in this business, I have to tell you that I had some apprehension, along with a great deal of anxiety about the debt I was about to enter into and about the regular monthly payments it would take to cover the debt. There’s no doubt about it, the fear of going into debt can be thought-provoking, and rightly so because the smart and successful investor is always concerned about the financial involvement. There's always a built-in fear that the investment may not work and it may not be possible to meet the payments. There could be problems with tenants who do not pay the rent or move out prematurely, or something could go wrong in the building and it will be a big expense and there won't be money to fix it. This most often occurs in instances when screening tenant applicants was not performed in competent manner. For more information about Screening Tenant and Background Credit Check, log on to Tenantscreeningbackgroundcheck.com
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