Investing in real estate is a time-honored way to make money and provide a stable livelihood. Whether you are a full-time investor or are doing it on the side, there are plenty of exciting ways to get involved in real estate. And remember anyone can get involved in real estate; you don’t have to have a wealth of experience.

Of course, knowing where to start can sometimes be difficult, particularly if you are a first-time investor. While the field takes some learning, with dedication, you can certainly develop the needed skills. Read on to learn a little more about investing in real estate.

Consider Different Types of Properties

Many first-time investors gravitate to residential property, which is understandable. A home is often a great investment, even if it’s just a place for you and your family to live. 

But other types of real estate are worth considering as well. Take commercial real estate. Commercial real estate sometimes gets short shrift by first-time investors — but that does not necessarily have to be the case. Commercial properties can bring in substantial returns, particularly if a valuable investment can be leveraged into future property investments, or if you can use a commercial property to expand your current business operations.

For instance, if you own a shop or restaurant, but rent your space, purchasing a piece of commercial real estate can give you vastly more control over your initial business. Plus, it may contain added benefits, like collecting rent payments from other businesses.

Carefully Consider the Market

Paying attention to market trends is essential for whatever type of real estate you’re investing in. If you’re looking at a residential property in a neighborhood that’s been growing in popularity for years, consider whether the market may be starting to “cool off.” On the other hand, if you’ve identified a great, up-and-coming area that has been thus far neglected, getting in early can yield a healthy return.

Pay Attention to the Surroundings

Carefully paying attention to nearby development is also essential. Buying property in a neighborhood slated for substantial redevelopment can significantly impact your investment — sometimes for good, but potentially for worse. Be aware of any new developments, tax reassessments, and similar changes that may take place where you’re looking at real estate.

These are not the only tips that a new real estate investor should consider, but they can help you orient yourself as you get involved in the field.