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Real estate experts explain whatunexpected expenses to plan for when you begin investing in real estate.
Then there are closing costs, which can range from 2% to 5% of the purchase price.
Both of these services cost a few hundred dollars and are expenses that come out of your pocket upfront.
These fees can add up and really impact your budget.
Termites, rodents and other pests can cause big problems and expensive treatments if they go unnoticed.
Its always a good idea to getregular pest inspectionsto avoid costly surprises later, Franz said.
He recommended budgeting for higher premiums to protect your investment.
Vacancy Costs
A cost few people think about upfront is vacancy costs, Branson said.
When renting out a property, its not always going to be occupied.
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