April 9th, 2017 7:46 PM by Nour Ailan
1. Fill Your Emergency FundYour emergency fund is a pool of savings you set aside to pay for emergencies. It’s self insurance for things you can’t insure.
2. Pay Off High Interest DebtNext, or concurrently with the emergency fund, pay off all high interest debt. If you are paying interest on credit card debt, you should be investing in yourself and paying down your debt as quickly as possible before investing.
3. Get “Free Money” From Your EmployerIf you’re working for a company and the company offers a retirement package, make sure you take full advantage of any financial benefits they offer. Many employers that offer 401(k) plans will offer an employer match to your contributions.
4. Build a Financial RoadmapYou need to build a financial road map. This road map will help you understand where the real estate investments fit in your broader financial picture.
5. Be Aware of Common Investment ScamsFinally, study the common real estate investment scams and scandals of the last twenty or thirty years. Be aware of what happened, how they could be avoided, how they could be mitigated, and how you can spot them as they happen.
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