Over the past few weeks I have been reading about real estate investing, especially small apartment buildings. There is a lot of information out there and my goal is to own an apartment building in two years. I firmly believe that if I research the topic, learn the material, and apply the concepts, I will be able to buy an apartment building. I never knew anything about buying real estate but the more I learn the more confident I become.
To me, having real estate as an investment (primary home doesn't count) is one of the safest ways to generate wealth. A lot of people might disagree given the state of the real estate market these past few years. My response to these naysayers is simple: don't buy what you can't afford. Too many people took on too much debt and when the collector came, they couldn't pay. A real estate investment should break even at the minimum, meaning that taxes, insurance, maintenance, and loan payments are all covered by the rental income. If it doesn't break even, its not worth buying...for me at least.
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