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s a newcomer to real estate investing, it's easy to feel overwhelmed by the vast array of options and conflicting advice. However, many have successfully navigated this terrain before you. According to Yosef Adde, a South Bay, California realtor, starting small can be a major advantage. By focusing on local markets, you can find affordable properties that fit your budget. For instance, consider purchasing a single-family rental property from someone you know personally - it's a great way to get started and build confidence in the process.
Adde himself began his investing journey with smaller investments, which helped him understand real estate principles and reduce risk. He advises against quick flips, as they deny you the benefits of long-term appreciation. Instead, focus on acquiring properties that generate consistent income, creating a reliable revenue stream. This strategy paid off for Adde after just a year or two.
Limited funds shouldn't hold you back - get creative with leverage to buy bigger properties than you could afford outright. A mortgage, for example, can help you purchase more valuable assets over time, while also providing tax benefits as the property appreciates in value.
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