As a Village Premier Collection REALTOR, I'm here to share valuable insights on real estate investing with you. If you're considering this venture, here are 10 essential things you should know:

1. Get Pre-Approved for a Mortgage

Start by securing a mortgage pre-approval. It not only provides financial benefits but also demonstrates your commitment to potential sellers, giving you an edge.

2. Cash Flow Matters

Ensure your investment property generates positive cash flow. Adjust your finances if needed to support your investment.

3. Local Pricing Trends

Research and analyze local housing prices. Look for areas with potential growth and compare prices in neighboring towns.

4. School Ratings

Consider school quality in your chosen area, as it can impact property desirability for families. Check state education rankings to identify top-performing schools.

5. Future Development

Investigate planned and potential future development in the area. Observe ongoing construction and watch for new infrastructure like roads, hospitals, and malls.

6. Tax Savings

Compare property tax rates between nearby towns and anticipate potential changes. Contact the local tax assessor to stay informed.

7. Suburban Appeal

Suburban areas near large cities can be attractive to commuters. Explore these areas and stay updated on their development plans.

8. Vacancy Rates

Assess the vacancy rates for the property type you're interested in within your chosen area.

9. Property Condition

Thoroughly examine the property's condition before committing to it. This will help you estimate repair and upgrade costs accurately.

10. Start Small and Learn

If you're new to real estate investing, begin with a manageable property. As you gain experience and funds, consider expanding your portfolio.