Along theses same lines, when you go to look for the rest of your core group of ?experts? as you begin your endeavor into investment properties, seek out individuals who not only know their business, but have also owned investment properties themselves. For example, I run into residential real estate agents far too often than I care to reveal who are offering all sorts of bad advice to would-be investors because they are trying to find an investment property and don?t know the difference between an investment and a primary residence.

Not to beat my own drum, but my experience in these matters is first hand and once you?ve worked with investment properties you will realize it?s not like buying a home to live in. Think of it this way, a gynecologist is in fact a doctor, but would you go to him/her if you had a sore throat? It?s no different with real estate agents. Find an agent who has experience in investment properties, first hand, because you seek investment properties in a completely different approach than you do a home to live in (Again, another story, another day). The same is true of lenders because borrowing money on an investment property is extremely different than a primary residence- and finding out your lender didn?t know that after the project starts can break you.

If you really want to enter the world of investment properties, be certain of your goals and stay within those narrow parameters. If you think investment properties will be ?fun? and a ?bonding? experience with your teenager because of too many hours spent in front of the T.V. watching ?Trading Spaces?, think again. Investing in real estate should be approached like any other investment. If the numbers look good on paper, proceed. If not, put on your tennis shoes and run like heck!

* The original ABC News story can be found at: http://abcnews.go.com/GMA/Business/story?id=553568

About The Author

Kimberly Shallenberger-Cameron currently manages the STLagent Team of Real Estate Consultants in St Louis, MO. Her website is http://www.stlagent.com

Kimberly publishes the St Louis Real Estate Blog, and also moderates the St Louis Community Forum Message Board at: http://www.stlagent.com/forum

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