Most people think of the DOW or the stock market when they think of investing. However, real estate is another very profitable area of investing. You can make money through investing in property. Soon enough, you’ll be an expert!

Make sure that you set realistic goals based on the budget that you have. You should not set a goal to buy ten houses in the span of a month if you only have a hundred thousand dollars to your name. Set reasonable expectations to avoid setbacks at all costs.

Keep an accountant on speed dial. You can be aware of tax laws and current taxation; however, there are many variables to keep in mind. A good accountant, that understands and keeps abreast of tax laws, can be an invaluable asset. Your success with investing can be made or broken by your approach to taxes.

Find a contractor to work with that you can get along with. There’s no reason to get someone to help you with fixing up the real estate you invest in if you don’t like how they operate. You can save yourself a lot of frustration if you just find someone that you know will work well with you.

Understand that time is money. You may love rehabbing properties, but is your time worth the manual labor work? Would your time be better used searching for new properties? Outsource what you can. It is a good idea to keep some time free for the most important aspects of real estate investing.

When investing in residential real estate, make sure you know the neighborhood you are buying in. Some neighborhoods offer better resale potential, while others are better for long or short term rentals. By knowing your neighborhood, you can create a smart business plan that nets you the highest potential for future profits.

Be a visionary in your real estate purchases. You can create instant equity where virtually none existed before with a little creativity and hard work. For example, a quick paint job can put a property in prime condition for selling, as can landscaping. A quick fixer-upper can mean a quick and profitable sale!

Location is key when looking at properties to invest in. The proximity to great areas will increase the value a ton. Think about the location and its potential.

It’s often a good idea to invest in properties that are local. This is because you know the neighborhoods better. If you live close by, you will be in the loop with what goes on with your properties. If you can’t see what’s going first hand, you will not have the control you need.

Know what you should be looking for in a property based on current trends in the market. For example, if you’re going to rent out the properties you buy, then it’s best to have units that are for single people, which is a current trend. Another example is to ensure any home you buy has three or more bedrooms because it will be easier for you to sell or rent to families.

If you’re really wanting to get into real estate, don’t deal with pushy or inexperienced sales agents. Consider your options and go from there. Investing in real estate is a great opportunity, so do not let this pass!