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 neighborhoods eventually become A-tier. You want to purchase in a B-tier area at B-tier prices and wait for it to become A-tier.
8) YOUR PRIMARY RESIDENCE IS NOT AN INVESTMENT
Do not kid yourself. Yes, your primary residence can increase in value over time, and eventually, if you sell it, you may make money. But it is not an investment. Your primary residence serves a purpose beyond making money; it provides shelter and should be a space that fits your needs first and foremost. It is impossible to take emotions out of the equation when it comes to your home. Do not view it as an investment.
9) NOT EVERY OPPORTUNITY IS THE RIGHT OPPORTUNITY FOR YOU
There are many great investment opportunities out there, but they are not “one size fits all.” When
choosing an investment property, it is important to make sure that you are buying something that is in your lane of expertise, is financially comfortable for you, and does not require skills or that you do not already have.
10) YOUR TENANTS ARE PART OF YOUR INVESTMENT
It is important to connect with your tenants and have a high level of engagement as their landlord. If your investment is local, be sure to stop by (not too much...) to ensure your tenants know you are present and care about them. If you are not local, make sure your property manager does this. Do not overcharge your tenants or institute unreasonable rent increases. You want low turnover and high satisfaction. Tenants should feel settled. Remember, every vacant property is money out of your pocket. If you take care of your tenants, they will take care of your investment.
 Harma Hartouni is an entrepreneur and developer who owns a top-ranked real estate company in Southern California with more than $1.0 billion in annual sales volume. He is the founder and Chief Executive Officer of multiple companies servicing the local real estate industry, including businesses providing financial services, technology and executive coaching. Mr. Hartouni has been honored by the National Association of Realtors as one of its “30 Under 30” brokers and the Los Angeles Business Journal has recognized him as one of their “40 Under 40” Most Influential Business Owners. For more information, connect with Mr. Hartouni on Twitter @HarmaHartouni, Instagram @harma_hartouni, Facebook @harma.hartouni, YouTube @TheHarmaChannel and visit his website at HarmaHartouni.com.
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