By David Norton
Real Estate Investors 10 Big Mistakes
Don't expect to get rich in a hurry, no matter what they say on TV infomercials, and don't let the dog eat your homework. Those are among the common goofs of novice investors.
Once the real-estate market starts to rebound, investing in property will become a more appealing idea -- either as a career or a great side job. Like any other endeavor, though, there's a right way and a wrong way to go about it.
Bankrate spoke with established, full-time real-estate investors and with professionals, such as bankers, to identify the 10 types of traps into which real-estate investors most often fall.
Click here to read the 10 Big Mistakes
The greatest problem is when an invester relies on rental income for repairs, mortgage, and taxes. Often tenants get in financial trouble or move without someone availaable for a long duration. You need liquid assets to take you through the lean times. This is from experience.
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