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Real estate investing is one of the most popular ways to build wealth. But before you decide to buy rental properties or a home, it’s important to calculate how much you can afford to invest in real estate, including upfront costs and unforeseen expenses like vacancies. This article will help you figure out how much to invest in real estate and avoid common mistakes.
When most people think of investing in real estate, they picture residential rentals. These include single-family homes, duplexes and apartment complexes. Landlords rent these properties out to tenants, generating a steady stream of monthly income. In addition to a stable source of income, landlords can also earn tax benefits from their rental property investments.