Buying your first investment property is exciting! In Chattanooga where home inventory is low, buying investment property or flipping homes is a great opportunity to make additional income. But for any beginner, it’s easy to make mistakes in the process. Here are some of the most easily done missteps and how to avoid them.
1. Assuming it’s a get rich quick situation.
Some people paint real estate investing as easy way to make money fast, and that’s just not always true. There is a lot of time and effort that goes into a real estate investment, and your first one may not go as planned. If you buy a home looking for the market to improve later and give you a profit when you resell, that may take longer than you imagined. Understand that
