While many people are interested in real estate investment, many beginners may feel that it seems difficult or worry about failing. In fact, as long as you grasp the key points, real estate investment is one of the asset management strategies that even salaried workers can undertake. This article will explain the basic mechanisms of real estate investment, its advantages and disadvantages, specific steps for beginners to start investing, risks to be aware of and countermeasures, as well as the mindset needed for success and recommended investment styles for beginners, in an easy-to-understand manner. Please read through to the end and use this article as a reference to take your first step into real estate investment.
The basic mechanisms and pros and cons of real estate investment
How real estate investment works: Real estate investment is an investment method where you purchase real estate such as a one-room apartment or an apartment building, rent it out, and generate income from rent. In most cases, you purchase the property using a combination of your own funds and a loan from a financial institution, then entrust the property management to a specialized management company and collect rent from tenants. The income from rent is used to repay the loan, and after deducting expenses such as management fees and taxes, the remaining amount is the profit. Additionally, the profit from selling the property is also considered income, and the returns from real estate investment can be categorized into income gains (rental income) and capital gains (sale proceeds). In other words, the characteristic of real estate investment is that it allows you to aim for both “monthly rental income” and “future profits from selling the property.”
While this system offers various benefits, there are also important drawbacks and risks to consider. Let's first look at the key points of each.
Benefits of real estate investment
- Stable income and preparation for the future: Real estate rental businesses provide a steady source of cash flow through monthly rent income. If the rent exceeds the loan repayment amount, it becomes positive income, and if long-term tenants are secured, this stable income continues. The ability to earn monthly supplementary income separate from one's primary salary is a significant advantage. Additionally, this monthly rent income can serve as a supplement to future pensions. Real estate investment income can help cover any shortfalls in retirement funds that may arise from relying solely on public pensions. Furthermore, investment loans often include group credit life insurance (GCLI), which means that in the event of the owner's untimely death, the remaining loan balance is forgiven, and the real estate asset remains in the hands of the family. This serves as an alternative to life insurance, protecting the family's livelihood and providing long-term peace of mind.
- Leverage effect using loans: In real estate investment, you can combine your own funds with loans from financial institutions, enabling you to invest on a scale several times larger than your available funds. The ability to acquire high-value real estate with a small down payment and generate returns using others' capital is a unique advantage of real estate investment. While this allows for the potential for larger returns compared to investing solely with available funds, it is crucial to plan appropriately within the limits of your repayment capacity.
- Tax benefits: Real estate investment offers several tax advantages. For example, after purchasing a property, you can deduct depreciation expenses as business expenses. If real estate income results in a loss, you may be able to offset it against other income such as salary income to reduce income tax and resident tax. Additionally, real estate can be an effective tax planning tool. In some cases, holding real estate rather than cash can result in a lower inheritance tax appraisal value. The assessed value of real estate (such as the assessed value for property taxes) is typically set lower than the market value, which may help reduce inheritance tax liability compared to holding cash.
- Resilient to inflation and retains tangible assets: Real estate is a tangible asset and is considered less susceptible to value depreciation during periods of inflation (rising prices). As prices rise, land values and rent tend to increase as well, making real estate a more inflation-resistant asset compared to cash deposits. In fact, during inflation, asset value can be maintained or even increased through rent hikes or property sales. Additionally, real estate inherently retains the physical asset of land, so the risk of its value dropping to zero—unlike stocks—is low, offering a sense of security as a long-term asset preservation tool.
Disadvantages of real estate investment
- High initial and maintenance costs: A significant amount of capital is required to start real estate investment. In addition to the down payment, various expenses such as brokerage fees, real estate acquisition taxes, and registration fees are incurred at the time of property acquisition. Furthermore, after purchase, fixed asset taxes and urban planning taxes are levied annually, and costs for maintaining and managing the building also arise. If you overlook ongoing costs such as equipment repairs, restoration to original condition, and fire insurance premiums, there is a risk that actual returns may fall short of expectations. For example, in the event of major breakdowns or damage, significant repair costs may be unavoidable. This initial and ongoing financial burden is a significant barrier to real estate investment.
- Vacancy and rent default risks: Rental income depends on having tenants. Vacancy risk means that if no tenant is found, there will be no income during that period. Loan repayments and fixed costs do not wait, so prolonged vacancies may require out-of-pocket expenses to cover the shortfall. While maintaining full occupancy is ideal, vacancies may occur due to market trends or seasonal factors, so efforts such as updating facilities or adjusting rent to align with tenant needs are necessary. Additionally, consider the risk of rent delinquency. Even if tenants are present, unpaid rent results in no income, leaving only loan and management fee payments. It is important to reduce delinquency risk through tenant screening and the use of guarantor companies.
- Low liquidity and difficulty in converting to cash: Real estate is an asset with lower liquidity compared to stocks. Even if you decide to sell and convert it to cash, if no buyer is found immediately, you may be unable to recover funds for an extended period. During the period when the property remains unsold, costs such as property taxes may continue to accumulate. Even if a buyer is found, the process from property viewings, price negotiations, contract signing, settlement, and registration takes time, and it may take a significant period before funds actually reach your hands. This high barrier to liquidation (i.e., high liquidity risk) is a major drawback of real estate investment.
- Management effort and specialized knowledge are required: Real estate investment is not a “buy and forget” business; it involves continuing to manage the property for rental income. While property management and tenant relations can be outsourced to a management company, the owner must still act as a business operator, making decisions based on an understanding of the situation. When a tenant moves out, you must find a new tenant, arrange for repairs to restore the property to its original condition, and develop maintenance plans for the building and facilities. These tasks are unavoidable, and it is also necessary to stay informed about legal and tax matters, as well as the rental market. Lack of knowledge can lead to relying too much on others, and neglecting to verify details can increase the risk of failure. It is often said that those who succeed in real estate investment are those who are willing to invest time and effort in learning, so it is important to understand that this type of operational effort and labor is required.
As mentioned above, real estate investment has its attractions, but it also involves risks. In the following chapters, we will take a detailed look at how beginners can start investing, deal with risks, and achieve success.
Specific steps for beginners to start real estate investment
To avoid mistakes and get off to a solid start, it is important for beginners to prepare in stages. Below, we will explain the specific steps for beginners in order.
- Set goals and analyze yourself: First, clearly define your investment objectives and goals, such as “Why do you want to start real estate investment?” and “How much profit do you aim to make?” People have various objectives, such as building funds for retirement, asset formation, and securing passive income. Setting goals makes it easier to formulate an investment strategy. At the same time, it is important to objectively analyze your current financial situation, annual income, and risk tolerance, and make a realistic plan. Consider how much you can cover with your own funds, how much you can allocate toward loan repayments, and how much risk you are comfortable taking based on your personality, and develop an investment plan that suits you.
- Developing a Financial Plan: Next, create a concrete financial plan. Simulate the amount you can prepare as your own funds, the amount you plan to borrow through financing, and the repayment schedule. It is important to consider not only the property price but also various expenses at the time of purchase (such as brokerage fees and taxes), annual property taxes, fire insurance premiums, and future maintenance costs, and to create a realistic income and expenditure plan. Additionally, factors such as your annual income, years of employment, and credit history will influence your ability to secure a loan from a financial institution. If possible, it is advisable to consult with multiple financial institutions in advance and undergo a preliminary review to understand the amount you can borrow and the terms available to you.
- Property information gathering and selection: Once you have a clear goal and budget, start looking for investment properties. Research the rental demand and market trends for the type of property in the area and narrow down your options to properties that meet your goals. Specifically, check the location (distance from the nearest station, surrounding environment), type of property (apartment, single-family home, etc.), age, floor plan and facilities, and yield (surface yield, net yield). It is important to consider future changes in asset value and rental demand, and evaluate whether the property is likely to attract long-term tenants and be easy to sell in the future. Utilize information from real estate portal sites and agents to compare and evaluate multiple properties. For beginners, it is common to be confused by specialized terminology and evaluation criteria, so feel free to ask real estate companies for clarification or seek advice from trusted acquaintances.
- Preliminary loan procedures and loan inquiries: Once you have identified a property you wish to purchase, proceed with a preliminary loan review and application. Securing the property requires a solid financial plan, so it is advisable to begin loan inquiries in parallel with the purchase application. Contact multiple financial institutions and compare the terms offered, such as interest rates, loan terms, and loan amounts. Whether to choose a variable-rate or fixed-rate loan is also an important consideration. If you want to avoid the risk of interest rate increases, choose a fixed-rate loan for the entire term, or make a decision based on your risk tolerance. When applying for a loan, prepare the documents requested by the financial institution (such as your tax withholding statement, income verification, and property documents) promptly to ensure a smooth process. Once the loan is officially approved, you can proceed to the contract.
- Purchase agreement and property purchase procedures: Once financing is secured, you will sign a purchase agreement for the property. After receiving an explanation of important matters, you will sign and stamp the contract and pay a deposit to formally indicate your intention to purchase. It is important to carefully review the contract contents (property rights, delivery conditions, breach of contract clauses, etc.) and seek clarification on any unclear points until you are fully satisfied. After signing the contract, you will enter into a loan agreement with the financial institution and proceed with the payment of the remaining balance. At the time of property handover, the transfer of ownership and mortgage registration will be conducted by a judicial scrivener, and you will officially become the property owner. It is also recommended to arrange fire insurance at this time. While the first contract process may be daunting, real estate companies, financial institutions, and judicial scriveners will provide support, so proceed by confirming each step carefully.
- Operations and property management: Once you acquire the property, you can immediately begin rental management operations and management. If you purchase a property with existing tenants, you will take over rent collection, and if you purchase a vacant property, you will begin tenant recruitment. Generally, you can entrust a real estate management company with tenant recruitment (advertising and property viewings), contract signing, rent collection, complaint handling, settlement and restoration arrangements upon move-out, and daily building management. Management fees typically amount to around 5% of the rent, but for beginners, it is safer to entrust the process to professionals rather than attempting to manage everything independently. Of course, the owner should review reports from the management company and provide instructions or make decisions as needed. There are also situations where the owner must make business decisions, such as implementing strategies to address vacancies (e.g., renovations or rent adjustments), handling delinquent tenants, and planning regular building maintenance. Even after purchasing the property, it is important to remain vigilant and continue efforts to maintain and improve its profitability. This will help ensure long-term stable asset management.
The above is a general overview of the process of starting real estate investment. There will be things you don't understand along the way. In such cases, gather information and study on your own while also seeking the assistance of experts to move forward step by step. Next, we will take a closer look at the risks that beginners are likely to face and the countermeasures to address them.
Risks that beginners should be particularly aware of and countermeasures
Real estate investment involves various risks, but taking precautions in advance can significantly reduce the likelihood of failure. Here, we will explain the representative risks that beginners should be particularly aware of and how to address them.
- Vacancy risk: If no tenants are found and the property remains vacant, no rental income will be generated during that period. However, loan repayments and fixed expenses continue, so the longer the vacancy persists, the greater the financial burden on the owner. Countermeasure: The first preventive measure is to select properties in areas with high rental demand and properties that are in demand. For example, properties near stations, universities, or businesses, or those with facilities and floor plans that align with market needs tend to have shorter vacancy periods. Additionally, it is advisable to engage a reliable real estate management company to actively recruit tenants and expand advertising efforts. Efforts such as maintaining a clean interior to leave a good impression on potential tenants, renovating outdated facilities, and reviewing rental conditions (such as rent or security deposits) can also be effective. It is crucial to minimize the gap between vacancies and the next tenant moving in.
- Rent default risk: Even if there are tenants, if they fail to pay rent, it does not become actual income. If defaults continue, the owner may end up having to cover loan payments or management fees themselves. Countermeasures: It is important to conduct strict screening during the tenant recruitment phase, thoroughly checking payment capacity, employment stability, and past default history. Additionally, consider using a rent guarantee company. By using a guarantee company, the company will cover the rent on behalf of the tenant in case of non-payment, significantly reducing the owner's risk. Including the requirement for a joint guarantor or the use of a guarantee company in the contract is a basic precaution against the risk of non-payment. If non-payment occurs, promptly notify the tenant and consider consulting a professional (such as a lawyer) before the situation worsens.
- Cash flow risk (repayment and interest rate fluctuation risk): This is the risk of insufficient funds due to unexpected expenses or a decrease in income, resulting in delays in loan repayments or the payment of various expenses. For example, if long-term vacancies, major repairs, or an increase in interest rates occur simultaneously, cash flow may deteriorate, leading to a cash flow crisis. Countermeasures: The most effective defense is to create a flexible financial plan and ensure sufficient capital (reserve funds). Before purchasing a property, conduct a cash flow simulation and create a plan that can withstand stress scenarios such as a vacancy rate of X% or an interest rate increase of X%. Set aside a certain amount from monthly rental income for future repairs and vacancies, and maintain an “emergency fund” for unforeseen circumstances. Additionally, interest rate fluctuation risk can be mitigated by opting for a fixed-rate loan. Even if you opt for a variable-rate loan, it is important to always consider options such as early repayment or refinancing in anticipation of future interest rate hikes, and take proactive steps as early as possible.
- Repair risk (equipment failure and disaster risk): This is the risk of sudden repair costs arising from the deterioration of buildings or equipment. As buildings age, various repair costs, both large and small, such as water heater or air conditioner failures, plumbing issues, and exterior wall repairs, become unavoidable. Additionally, Japan is prone to natural disasters such as earthquakes and typhoons, and in the event of a major disaster, significant restoration costs may be incurred if the building is damaged. Countermeasures: It is important to establish a long-term maintenance plan and set aside a maintenance reserve fund from monthly rental income. Even for newer properties, equipment will eventually need to be updated, so it is important to plan and prepare for this in advance. Additionally, it is essential to have fire insurance (property damage insurance) and consider earthquake insurance as needed. Damage to buildings caused by fire or water damage is covered by insurance. Regular inspections and maintenance of the building should be conducted on a routine basis, and any signs of deterioration should be addressed promptly to minimize the risk of major breakdowns. Furthermore, when selecting a property, it is advisable to check hazard maps and choose a location with low risks of flooding or liquefaction as an effective risk mitigation strategy.
- Liquidity risk: As mentioned earlier, real estate is an asset that often takes time to sell. Even if you want to sell quickly to convert the property into cash, it may be difficult to find a buyer depending on market conditions and the property itself. This is particularly true for properties in rural areas or large properties, where the number of potential buyers is limited, and it is not uncommon for properties to be sold at prices lower than expected. Countermeasures: The basic approach is to establish a plan based on long-term ownership. Avoid the temptation to think, “I can always sell later,” and instead focus on maintaining a healthy business operation that can continue even without selling. If you do consider selling as an exit strategy, it is crucial to choose properties with high demand. Properties in high-liquidity areas like downtown areas, or those that maintain both profitability and asset value, are more likely to sell smoothly when the time comes. Additionally, combining liquid investment products like real estate investment trusts (REITs) to build a diversified portfolio is another option.
The above are the main risks and examples of countermeasures. The key point is that “risks are not scary if you know them in advance and prepare for them.” Rather than fearing them blindly, if you acquire the skills to deal with them appropriately, you can approach investment with confidence.
The mindset and approach necessary for success
To succeed in real estate investment over the long term, the mindset and mindset of an investor are more important than techniques. We summarize key points to keep in mind as a beginner, drawing lessons from the successes and failures of those who came before us.
- Focus on the long-term perspective rather than short-term gains: Real estate investment is not a “money game” like stocks or FX, where you aim for short-term gains from buying and selling. It is an investment where you manage assets over the long term with the expectation of future returns. Attempting to make quick profits through risky speculation often leads to failure. A steady, long-term approach to asset building is essential. As the saying goes, “Real estate investment is not speculation but a business,” and the key to success lies in the patience and perseverance to build returns over time. Avoid being swayed by short-term gains and make decisions with a long-term perspective of 10 to 20 years ahead.
- Prioritize networking and collaboration with experts: To smoothly operate a real estate rental business, it is said that both financial backing (“cash flow”) and a network of people (“connections”) are essential. The success or failure of an investment can often depend on the people around you, such as real estate agents who introduce properties, financial institution representatives who provide loans, property management companies that handle operations, and experienced landlords, tax accountants, or lawyers who offer sound advice. Successful investors place a strong emphasis on building a reliable team and gain valuable information and opportunities through their connections with others. As the saying goes, “Without either of these, smooth real estate management is impossible.” Do not try to go it alone; instead, nurture your network of connections. Building trust with tenants is also essential. Tenants are your customers, and a sincere effort to ensure their comfort and long-term stay will lead to stable management.
- Continuous learning and careful information analysis: The world of real estate investment is constantly changing, so ongoing study and information gathering are essential. There is a wide range of topics to learn, including changes in financing systems and tax laws, regional supply and demand for rentals, interest rate trends influenced by economic conditions, and know-how for renovating used properties. It is often said that people who fail in real estate investment simply lack knowledge. Without sufficient knowledge, one may end up relying on others, leading to a hands-off approach to management. On the other hand, successful investors are those who invest in themselves and continue to learn. Beginners should start by learning the basics through books and seminars, and even after putting theory into practice, they should continue to gain experience while updating their specialized knowledge. Additionally, when making decisions regarding property selection or management, it is crucial to avoid relying solely on intuition or impressions, and instead always conduct analysis based on data and evidence. Rather than going with your gut feeling, carefully examine the numbers from yield calculations and market research, and calmly evaluate the results of simulations. This is the key to success.
- Be aware of your role as a business owner: Real estate investment is not simply asset management, but a business operation. Purchasing a property does not automatically mean you will make a profit. Remember that the real challenge begins after the purchase. If we compare it to running a company, the real estate owner is the CEO. It is obvious that the business will not succeed if the owner, as the CEO, lacks motivation or management skills. While it has become easier for even salaried workers to invest in single-room properties, the number of individual investors who lack knowledge has increased, leading to more failures. A common trait among those who fail is that they rely entirely on management companies and fail to monitor the business situation, or they make unplanned expenditures due to overly optimistic future simulations. To avoid this, approach real estate investment with the mindset of “protecting your own company (real estate assets).” By always being aware of risks and preparing for them, paying attention to tenants and the condition of the property, and continuously making efforts to maximize profits, you will be on the path to success.
With these principles in mind and through practical experience, real estate investment will surely become a powerful asset management tool for you. Finally, let's take a look at some recommended property types for beginners to actually invest in.
Recommended real estate investment styles for beginners
Real estate investment encompasses a wide variety of property types. For beginners, the following styles are relatively easy to start with and do not require too much management. We will explain the characteristics and advantages and disadvantages of each.
Condominium unit investment
Condominium units refer to an investment style where you purchase a single unit in a condominium (a multi-unit residential building) and rent it out. One-room condominiums in urban areas are relatively affordable and easy to start with, and require little management, making them suitable for beginners. A specific advantage is that the initial costs are relatively low. For example, properties can be found starting at several hundred thousand to several million yen per unit, making it accessible even for beginners with limited capital (especially used condominium units, which are cheaper than new ones and offer better returns). Additionally, unlike purchasing an entire building, the maintenance and management of the entire building are handled by the homeowners' association and management company, allowing the owner to focus solely on managing the interior of the unit and rental operations. Furthermore, responses to equipment malfunctions and building repairs are generally handled through the management company, making management burdens relatively light even for beginners.
On the other hand, the main drawbacks of condominium unit investment include the risk of zero income during vacancies. Since you own only one unit, if a tenant moves out, rental income will cease during that period. Unlike owning multiple units or an entire building, risk diversification is limited, so caution is necessary. Additionally, the overall management status of the condominium and the actions of other unit owners can impact your investment (e.g., increases in maintenance reserves or decisions on major repairs, which are beyond your control). Furthermore, you must pay monthly management fees and maintenance reserves, and these ongoing costs are deducted from rental income, affecting the return on investment. Nevertheless, if the condominium is well-located and in high demand, stable long-term returns can be expected, and diversifying the number of properties can help mitigate risks in the future. Overall, condominium investment is a suitable style for beginners to start small and accumulate knowledge.
Single-family home investment
Single-family home investment involves purchasing a single-family home and renting it out. Used single-family homes are often relatively affordable, and in recent years, a strategy known as “run-down single-family home investment” has gained attention, where investors purchase inexpensive used single-family homes in rural or suburban areas, renovate them, and rent them out. One of the main advantages of single-family home investment is that the land accounts for a high proportion of the property price, making it less susceptible to depreciation in asset value. While the building deteriorates over time, the land remains a permanent asset, offering a variety of exit strategies, such as selling the land after demolition or using it for personal purposes. In terms of rental demand, single-family homes primarily target family households, which tend to move less frequently than apartment dwellers, making it easier to secure stable income through long-term tenancies. Family households tend to establish their lives in a single home, so securing good tenants can result in them staying for several years to decades, which is not uncommon.
On the downside, there is the risk of vacancy since each property is occupied by a single household. Like condominium units, if a property remains vacant, income drops to zero, so it is important to note the significant impact of a prolonged vacancy. Furthermore, unlike condominiums, single-family homes require the owner to manage all common areas and infrastructure, including maintenance and repairs. This includes not only the building itself but also the property (such as the yard and parking lot), as well as maintaining water and sewer pipes and other infrastructure. The scope of management is broad and time-consuming. Older single-family homes often require frequent repairs, and the longer the occupancy period, the greater the burden of maintenance costs due to aging. Additionally, the demand for single-family home rentals is highly dependent on the area, and in regions experiencing population decline, securing tenants may become challenging. As countermeasures, it is important to choose areas with high demand for single-family homes (such as regions where single-family homes with parking lots are popular), thoroughly inspect the condition of the building at the time of purchase to ensure there are no critical defects, and enhance competitiveness through appropriate renovations. Additionally, when selling in the future, single-family homes with land have the advantage of being easier to sell to actual buyers. In summary, single-family home investment is suitable for those who prioritize land assets and seek long-term stable income, but it is important to prepare for the effort required for management and maintenance, as well as the risk of vacancies.
Small-scale apartment investment
Small-scale apartment investment involves purchasing and managing an entire building with a few to several dozen residential units. Wooden or lightweight steel-frame two-story apartments are relatively affordable, with many available for acquisition in the tens of millions of yen range, making them more accessible than single-unit condominiums but requiring more capital than individual units within a larger building. The primary advantage of owning an entire apartment building is the ability to generate rental income from multiple units, thereby diversifying risk. Even if the building is not fully occupied, income continues to be generated as long as all units are occupied, which is a key advantage of single-building properties. For example, even if one or two units are vacant, the rent from other units can cover loan repayments and expenses. The total income when fully occupied is also higher than that of condominium units, and the yield (return on investment) tends to be higher, making it attractive for those prioritizing profitability. Additionally, one of the unique advantages of owning a single-building property is that the owner can freely decide the operational policies of the property. For example, you can allow pets in certain rooms, renovate vacant rooms to enhance their value, or adjust rent settings and leasing conditions for all units at once. The wide range of operational discretion is a unique feature of single-building management. Additionally, single-building properties are often more favorably evaluated by financial institutions due to their larger scale, making it easier to secure loans. Once the property is established, rental income can be substantial, making it an investment style that can easily leverage economies of scale.
Of course, there are also disadvantages and points to note when investing in small-scale apartment buildings. First, the high property price results in a large initial investment and loan burden. While vacancy risk can be diversified, an increase in vacancies or a decline in rent beyond expectations can significantly impact cash flow. Additionally, the owner is fully responsible for the maintenance and management of the entire building. Cleaning and repairs of common areas (such as staircases, hallways, and exterior structures), as well as maintenance costs for building facilities (such as plumbing, roofs, and exterior walls), must be planned and covered by the owner. With more units, management companies may charge higher fees for tasks like tenant turnover and complaint handling. Furthermore, choosing the wrong location increases the risk of vacancies. Apartments come in various types, from single-occupant to family-friendly, but purchasing without thoroughly assessing the number of competing properties and demand in the surrounding area could result in an oversupply and high vacancy rates. In the case of used apartments, many are older properties, so it is essential to thoroughly investigate and factor in accumulated maintenance risks (such as the need for a full roof renovation in the future). Despite these considerations, small-scale apartment investments remain a viable option for achieving high returns with minimal initial capital. In fact, some say, “Even beginners can start with a few million yen, and the returns are higher than condominiums, making it easier to manage.” With the assistance of management companies or other experts, it is possible to achieve significant success.
The above are representative real estate investment styles that are easy for beginners to consider. Each has different initial costs, effort requirements, and risk-return balances. It is advisable to choose the most suitable style based on your financial capacity, the amount of effort you can tolerate, and the scale of investment you aim for. Starting with condominium units or single-family homes and gradually expanding to apartment management as you gain experience is also a viable strategy.
Summary: Real estate investment is an attractive investment method that can provide stable asset growth even for beginners, provided they approach it with the right knowledge, planning, and mindset. Understand the basic mechanisms, consider the advantages and disadvantages, and select properties that align with your goals while maintaining a steady management approach. Prepare adequately for risks, avoid being swayed by short-term fluctuations, and consistently work toward your long-term goals. We hope this article serves as a reference for taking your first steps into real estate investment. We wish you success in your real estate investment endeavors!
