In her experience,is best suited for certain types of people. "I think it's important for people to always invest in things that they understand. If you are going to invest in real estate, you need to know your numbers, and you need to understand people," says Nova, a real estate investor who owns 10 properties.People who want to own tangible investments, investing in real estate is much more tangible. Sometimes, it even involves hands-on work in a way stock investing never could.
"It is a people management position when you're dealing with tenants," she says. Dealing with tenants and clients at all hours of the day is routine for landlords. In her experience helping other landlords, she finds that a lot of successes and failures come down to the amount of research and forward planning done.
Agreed. It can be a great wealth builder, but plan for the worst, and be prepared to do a lot of work. Even with a property manager, you can find yourself doing a lot of painting / fixing etc if you haven’t included a large repair budget in your calculations