BROADCASTS.com

b'

It\\u2019s often said that the devil is in the details. But for investors, attention to some things that may not seem so significant can make a big difference in long-term returns.

That\\u2019s the topic of a recent article and infographic from\\xa0Visual Capitalist, which points out how very small tweaks to an investor\\u2019s mindset and strategies can yield more wealth. And it\\u2019s also what Jason Hartman has been saying all along: Invest early. Diversify your portfolio. Minimize risks. Keep expenses down.

Though these four simple keys apply to investors of all kinds, they\\u2019re especially relevant in the world of real estate, where it\\u2019s all too easy to fall into believing myths about investing or get swept away by enticing deals and promises of big money fast.

It\\u2019s commonly believed that investing is something done later in life, not an option for the young, or for those who don\\u2019t have a lot of resources ready to hand. But waiting to begin your investing career until you\\u2019re \\u201cold enough\\u201d or prepared enough can mean that you never begin investing at all. And since income property is an asset that increases wealth over time, investing early may be the bet way to lay a foundation for long-term wealth.

Investing early might mean setting your investing plan in motion at a young age by establishing good credit, setting aside money to cover investment related expenses and learning all you can about the process. Or it can mean taking that first step toward buying your initial investment property once you\\u2019re financially able to do so, rather than waiting for that next promotion at work, or the date of your retirement.

Diversifying your investment portfolio may not be a small thing, but putting the idea into your investing plan just might be. It may be tempting to put all your investing eggs into just one asset basket, but that can be risky if market conditions change.

It\\u2019s smarter to be open to buying properties in as many different markets as possible as a hedge against precisely that \\u2013 being an \\u201carea agnostic\\u201d as Jason Hartman calls it: one who isn\\u2019t blindly attached to any one market but is open to promising investments wherever they might be.

Not only does a diverse portfolio offer a safety net in the event of a sudden crash, it also creates opportunities that wouldn\\u2019t necessarily be available in just one area: different tenant pools and economic conditions allow investors to rep profits in very different ways.

\\u201cRisk\\u201d doesn\\u2019t mean the same thing to everyone, and some investors are more risk accepting, or risk-averse, than others. There\\u2019s risk involved in every investment, of course. But investing success depends on avoiding needless risks and doing what you can to minimize the risks you do face.

Educating yourself is a basic way to do that \\u2013 and it helps you stay in control of your investments. One needless risk many investors take is to leave their investing efforts to other people. While it\\u2019s important to get good advice from qualified people, the more you know, the better you\\u2019re able to evaluate that advice \\u2013 and decide if those offering it are competent and honest.

Keeping the dollar signs out of your eyes is another way to minimize risk. Get rich quick promises and deals you must jump on immediately may be enticing but they carry great risks. Evaluating your tolerance for risk is something every investor should do \\u2013 and so is resolving to avoid needless risks.

Keeping your expenses down is also key to investing success. Leveraging the power of debt is one way to do that. Using up all your savings to buy an \\u201cinvestment\\u201d property can end up being costly. Buying your investment properties with a fixed rate mortgage that\\u2019s covered by monthly rent payments reduces your risk and makes your own savings available for other uses.

Paying attention to other ways to cut expenses can also help boost your investing returns. Managing investments directly rather than paying management companies or property managers can keep money in your pocket \\u2013 and so can getting multiple estimates for repair and maintenance work. Being mindful of ways to cut expenses is a small action that can boost investing returns.

\\xa0

Successful investors build wealth by taking both a long and a short view of the process. Some things may be out of your control \\u2013 but the little things that make a difference are ones that any investor can do.