real estate

While owning a home is the quintessential American dream, not everyone is able to purchase a home when they desire. If you’re fresh out of school with a boat load of student debt, it’s probably best to wait until you’ve been working for at least a year before you start looking to buy. You’ll also want to make sure that your credit score is where it should be, since the higher your score, the lower your interest rate will be. It’s also important to pull a copy of your credit report prior to contacting any mortgage companies; examining it in minute detail to ensure that everything is correct. If you do find an error, dispute it with the credit bureau immediately and keep the documentation.

If you’re looking to diversify your investment portfolio, you may want to consider purchasing investment property.

Depending on how hands-on you want to be, you may want to purchase real estate as a short-term investment; fixing up the property and then selling it immediately for profit. For a long-term investment, rental property can provide a steady income stream over the longer term.

If you buy a home and you have no life insurance, there is a financial risk. It may not be immediately evident, but it must be acknowledged -- and it should be addressed.

Ask anyone and even if they don’t know a thing about investing they’ll say, “oh, real estate is a great investment!”