Even though this article on the “10 Top Mistakes of Novice Investors” from AOL’s Real Estate portal is a little outdated (it quotes statistics from 2004), it still has solid advice for potential real estate investors. Investing in real estate for the first time can be a bit scary, and there are a lot of things to consider before purchasing. Some things to consider included in the article are making sure that you perform due dilligence, and not studying the competition (after all, if every other vacation rental in your chosen area has a pool, and the home you’re purchasing doesn’t, are you going to need to put one in before you can get a good rental price, and how much is that going to cost you?). It’s a very good primer for anyone who’s considering investing.

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Filed under: Buying, Investment Homes