The prospect of real estate investing has an alluring pull for clients, but advisors caution that those romantic notions can obscure some of the pitfalls that arise when purchasing investment property.

“For all the millionaires and billionaires real estate has created over the years, there are also a lot of lost fortunes because of real estate,” said Doug Cohen, managing director of portfolio management at Athena Capital Advisors in Lincoln, Massachusetts. “You really need to understand how to enter and exit real estate.”

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