Top Strategies to Stay in the Real Estate Game

Here are some very simple, but helpful tips to stay in the game of real estate.

1. Always understand insurance- insurance policies can be confusing and can often get the best of you. It's for your best interest to understand your policy completely.

2. Never keep a building empty- an empty building only costs money without making any.

3. Never buy a property that has no equity- it's just a simple business rule.

4. Only sell out of necessity- if you don't have to sell it, don't. You can make money when you have the property, but if you have to sell it because money is tight, that is the best time to sell.

5. House prices can fall- house prices can fall, and likely will fall in an unstable economy. So it's a good idea to make internal and external improvements to your home.

6. Always compare mortgage rates- this is called shopping. Shopping for the bets long-term deal can save you more than you think. 

7. Take expert advice when searching for a home inspector- some inspectors can be shiesty and not do a good job. It's worth your time to find a reliable one.

8. Always check terms of contract- hire a lawyer if needed, but make sure you understand every part of every contract you are handed. If you think you have an idea what a clause means, double check. You don't want to end up in court for something you thought you understood, but really didn't.

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