I
nvesting in real estate properties is a popular method for building wealth. These properties not only appreciate in value over time, but they also offer potential for rental income. Owning multiple properties may be a profitable investment for some individuals, but it's important to remember that a person's home is often their largest investment. Whether you're planning to purchase multiple properties throughout your life or buy a property to call home, thorough research of the area is crucial for making an informed decision. This research can also make the real estate agent's job easier, according to real estate experts Inna Muravin and Bob Zimmer.

    Zimmer emphasizes the importance of finding an agent who knows the area well and can provide valuable insights about the local market. He advises being cautious and understanding both the potential benefits and drawbacks of owning multiple properties and renting them out. It's crucial to be prepared for both the upside and downside of property investment. Zimmer suggests seeking guidance from organizations like the National Association of Realtors or the Better Business Bureau for useful information when starting your investment journey.

    Muravin also stresses the importance of research, suggesting that individuals use search engines like Google to gather information about the areas they're interested in investing in and the professionals they plan to work with. Some real estate agents specialize in working with investors, and reaching out to such an agent can significantly speed up the process. Muravin advises asking potential agents about their experience working with investors when interviewing them.

    Different neighborhoods appreciate at different rates and have varying vacancy levels. For instance, Cleveland's inner city may have different rates compared to its suburbs like Beachwood, Chagrin Falls, or Pepper Pike. Working closely with a real estate agent is crucial for understanding the local market and aligning expectations with reality. Muravin recommends asking potential clients to fill out a questionnaire to learn about their goals and expectations, which will help her tailor her assistance accordingly.