Hi, I am here to talk about whether real state investing is for you. If you are thinking of buying a home for investment purposes, the one question have to ask yourself is whether you have the money in the bank for such a monster purpose. Because let say, you have somebody in that house who start renting the house and they leave, do you have the money to cover the mortgage? That is why you need a good chunk of money in your savings account to take care of something like that.
Number two, investigate mortgage brokers. Best advice, stay local. They should know you, they have your best interest at heart. Do not deal with somebody who is over the phone in the other side of the country.
Number three, school yourself on the current real state mortgage. I can not stress this enough and I know from experience. That is why I am talking about it, real state terminology you should know, the area where you are considering buying look what happen with similar buyers, talk people who where in similar situations. Anything you can learn about what you are about to get into. Remember, it is a huge commitment, knowledge is power.
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