5 Helpful Tips for Investing in Real Estate in Phoenix Remember how excited you were when you bought your first home? You’ll probably be just as excited when the time comes to invest in a second property. Even though there are similarities with each process, there are a handful of different aspects to consider when investing in real estate. Here are 5 helpful tips for the novice real estate investor: Determine how you’re going to use the property – is it for an investment, vacation purposes, or for your daughter or son when going off to college? Consider all costs involved – despite the significant gains you’ll realize in the long run, you’ll need to calculate certain added costs into your budget such as furnishings, maintenance expenses, etc. Figure out how you’re going to finance the property – can your first home help you pay for that second property? Do you have equity that you can access? Maybe interest rates have dropped so you can do a cash-out refinance. Prepare yourself for stricter underwriting – try to settle your large debts and add to your savings in the process. You’ll probably be looking at a larger down payment and need a higher credit score. Most importantly, work with a reputable lender – it’s always crucial to work with a lender that has your best interests in mind and avoid predatory lenders. https://www.google.com/maps?cid=6744959272592205627