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What does it mean to invest in real estate? Rather than just buying a house to live in, investing is about purchasing a property that will produce income. That could mean you buy a home that you intend to flip (fix up and sell quickly for more than you bought it for) or rent out. Or maybe it’s something larger: an apartment or commercial building that has tenants who will pay you enough rent to cover the cost of owning the building, and then some.

Obviously, these purchases are expensive—but on the upside, interest rates are low! If you are in a position to buy an investment property but haven’t done it before, read on for tips from Realty ONE Group’s CEO Kuba Jewgieniew to spend your money wisely. Remember: The goal is to build wealth, and that takes time. Don’t rush in without planning!