1. Understand the local real estate market and the factors that can impact property values. This includes studying economic trends, the job market, and the state of the housing market.

  2. Develop a solid investment strategy and stick to it. This may involve identifying specific property types or geographic areas to focus on, or setting target rental rates or return on investment goals.

  3. Be prepared for the costs and responsibilities of being a landlord. This includes budgeting for repairs and maintenance, understanding local rental laws and regulations, and having the ability to screen and manage tenants.

  4. Build a network of professionals to assist with the buying and managing process. This may include real estate agents, property managers, attorneys, and accountants.

  5. Be patient and willing to learn from mistakes. Real estate investing is not a get-rich-quick scheme, and success often comes from staying the course and continuing to learn and grow as an investor.