The old adage that the stock market may go up -- and may go down, but real estate always stays on the ground relates especially well to people who are handy themselves or have contractors in the family. The purchase of investment property can be a wonderful opportunity to build an investment portfolio for the future.

Since many aspects of purchasing homes is driven by tax considerations, please be sure to consult a trusted tax advisor. The best interest rates are available to those individuals who will occupy the property as a primary residence. If given a choice, most people will take a more conservative mortgage on a long-term residence of their own and be inclined to take more risky sorts of mortgages on buildings in which their tenants reside.

Nonetheless, especially for homes up to four residential units, wonderfully low rates are often available. Buildings which contain more than four residential units are popularly referred to as ..................also commercial property". These buildings usually have higher underwriting costs (e.g., appraisal fees) but, of course, may present much higher sources of income.

For the novice investor, critical to any successful approach is assembling a good team of advisors including, in particular, a structural engineer, repair persons, and accountant.

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