Error 3 For New Real Estate Investors

April 20, 2017

Emotional separation from your home

Have you lived in your home for many years and you’re taking a big step moving out and renting it?  This can be a great idea but you need to emotionally separate yourself from your home.  You have poured your equity, blood, sweat and tears into your home.  Many people have worked their entire lives to own that home and they have extreme pride in it.  Pride in ownership is very important to real estate investment but you must realize that your new renter will not hold the home in the same regard.  Most tenants treat their homes very well but there will always be a separation between ownership and renting.  Your home will likely still be in great shape, but over the term of the lease whether it be months or years the home will have wear and tear and it won't always be perfect as you left it.  Don’t stress over it.   Enjoy the rent checks and appreciation from your investment.        

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