The stock market may be climbing back to record highs, but warnings from investors such as The Big Short star Michael Burry that a bubble could burst “sooner than later” are prompting some people to consider alternative investments.

Real estate is often among the first options mentioned as a way to diversify a portfolio. But for people who are not already wealthy, how practical is it to begin investing in property?

The good news is that you do not need unlimited savings to enter the real estate market or gain exposure to the possibility of long-term property appreciation.

Nadia Evangelou, principal economist and director of real estate research at the National Association of Realtors, told the Daily Mail that the combination of rental income and rising property values is one reason real estate can appeal to long-term investors.

Property appreciation can also magnify the impact of a relatively small initial investment. For example, if you put $50,000 down on a $400,000 home, any increase in value applies to the entire $400,000 property—not only to the money you initially invested.

Evangelou said the typical American homeowner has accumulated more than $230,000 in home equity over the past decade. Still, homeowners and investors should remember that property prices can decline, and real estate returns are never guaranteed.

Unlike purchasing shares online, owning property involves a range of ongoing expenses. Mortgage payments, property taxes, insurance and repairs can all weigh on returns—and create costly pitfalls for inexperienced investors.

Jeff Lichtenstein, the founder and broker of Florida-based Echo Fine Properties, has taken part in more than 10,000 real estate transactions. He said those expenses are why beginners should start with a manageable property, keep the strategy straightforward and limit their potential losses while gaining experience.

Here are his recommendations for entering real estate investing while avoiding the beginner mistakes that can erode your profits.

1. Start with the home you actually live in

For someone buying their first property, Lichtenstein said one of the most sensible strategies may be purchasing a home they intend to live in and improving it over time.

Instead of immediately taking on a separate rental property or renovation project, you have a place to live while potentially increasing its value through practical upgrades.

“The best way to start investing in real estate is a home that the investor will be residing in and can fix up while they are living in it,” Lichtenstein told us.

This approach may also limit the downside. A new investor is not immediately responsible for a separate investment property while learning how mortgages, maintenance and property management work.

2. Keep the first property small

That does not mean taking on an enormous fixer-upper that demands a large construction crew and a substantial amount of cash.

Lichtenstein recommends keeping the first project modest, since mistakes are difficult to avoid when you are still learning the business of real estate investing.

“A smaller property hedges the amount you can lose on a mistake,” he said.

That might mean choosing a modest single-family home, condominium, townhouse or another smaller property that is financially manageable instead of stretching your budget to its limit.

3. Know your neighborhood inside out

A property that looks like a bargain can quickly turn into a poor investment if you do not understand who wants to live there—or who might be willing to buy or rent it later.

Lichtenstein says understanding the local market is ‘critical’ and warns investors against simply copying the style or preferences they know from another part of the country.

Evangelou agrees that location should be a major consideration for would-be investors.

She recommends looking at areas where jobs and populations are growing, as these trends can help support demand for housing.

A beautiful property in the wrong location may not be much of an investment if there are few people willing to rent or buy it.

4. Don’t build your dream house – build what buyers want

One of Lichtenstein’s cautionary examples involved an investor who built a home in the style of a North Carolina farmhouse in South Florida.

The problem? There was not much of a local market for it.

The lesson is simple: your personal taste is not necessarily a selling point.

Before spending money on a renovation or new build, look at nearby properties that are actually selling and what buyers are paying for.

5. Think about who will buy it

A property can be beautifully renovated and still struggle to sell if it is aimed at the wrong audience.

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Lichtenstein points to South Florida, where an investor might renovate a two-story home with the primary bedroom upstairs without considering that many older snowbirds may prefer – or require – easier single-level living.

The cheapest renovation is often the one you don’t need to redo later.

6. Work out every cost – not just the mortgage

One of the easiest ways for a beginner to fool themselves is to look at the mortgage payment and forget everything else.

Evangelou stresses that investors need to consider the full cost of owning a property, including property taxes, insurance, repairs, maintenance and HOA fees.

And those costs don’t disappear simply because a property is generating rent.

Investors should also factor in renovation and holding costs, as well as the possibility that a property could sit empty between tenants or take longer than expected to sell.

A deal that only works if everything goes perfectly may not be much of a deal at all.

7. Make the property help pay for itself

Rental income can be one of the major attractions of real estate, but investors don’t necessarily need to start with a large apartment building.

Evangelou says a duplex can provide one relatively accessible option: an investor could live in one unit while renting out the other.

There are other possibilities, too, such as renting out a room, basement or accessory dwelling unit, where local rules allow it.

The rental income can potentially help offset some of the property’s ongoing costs, although investors still need to account for vacancies, repairs and other expenses.

8. Learn the local buying season

Real estate is not just about location, location, location – timing matters, too.

In South Florida, Lichtenstein says January through June is the busiest part of the season, with January through April particularly important for snowbirds and April through June attracting more families.

An investor who puts a property on the market in July could potentially find themselves waiting months for the right buyer.

And every month spent waiting can mean more mortgage, insurance, maintenance and other carrying costs.

9. Build your contractor dream team

Even the most hands-on investor cannot do everything alone. Lichtenstein says having reliable contractors is key, particularly when renovations are involved.

‘It takes some time to build up a trusted team,’ he says.

Rather than simply choosing the cheapest quote, beginners should look for professionals with a strong track record who communicate clearly and can actually deliver the work on schedule.

Before signing on the dotted line, investors should also investigate potential repairs, permits and other issues that could turn a seemingly cheap property into an expensive one.

The goal is to discover the costly surprises before you own them – not after.

10. Think long term – or consider a real estate investment trust (REIT)

The biggest beginner mistake may be assuming real estate is an easy route to fast money.

Evangelou says investors should think of property as a long-term investment, where rental income, mortgage paydown and potential increases in property values can work together over time.

But prices can fall and property can be expensive, time-consuming and hands-on. For those who want exposure to real estate without buying a house or becoming a landlord, REITs, or REITs, offer another route.

Evangelou says REITs can be an option for people who want to invest in real estate with less money and without taking on the responsibilities of being a landlord.

Investors can buy shares rather than taking on an entire property themselves, although REITs come with their own risks and returns are not guaranteed.

The right option will depend on an investor’s finances, goals and tolerance for risk.

But for would-be landlords and flippers, Lichtenstein’s message is refreshingly straightforward: start small, know your market and don’t bet the house on your first attempt.

After all, the goal of a first property is not necessarily to become a millionaire overnight. It is to learn the game without paying an eye-watering tuition fee.

A Massachusetts man with a prior child pornography conviction has admitted illegally importing radioactive material from Russia and distributing it to buyers across the United States, federal authorities said.

Jacob D. Miller, 44, pleaded guilty to importing plutonium from Russia and having it shipped to his home in South Hadley, where he operated a business called “Collect The Periodic Table,” the US Attorney’s Office for the District of Massachusetts announced Monday.

Miller was convicted in February 2004 of possessing child pornography and an explosive device. He received a two-and-a-half-year prison sentence followed by 10 years of probation, prosecutors said.

After his release, Miller launched Collect The Periodic Table, selling samples of chemical elements that included radioactive plutonium and the highly poisonous metal thallium.

Officials said he marketed the materials both through his own company and via Bonanza, an online third-party marketplace.

Between Dec. 30, 2020, and March 31, 2025, Miller sold plutonium to about 67 customers, prosecutors said. In some cases, he sent the radioactive substance through the US mail.

Federal authorities also said he sold thallium to 71 customers located throughout the country.

Plutonium is a radioactive, silver-colored metal that can be used in nuclear weapons. It can be fatal if inhaled, swallowed, or introduced into the body through an open wound. Thallium, meanwhile, is an odorless, tasteless and slow-acting heavy metal known for its extreme toxicity.

When investigators searched Miller’s home in April 2025, they found a box containing bottles of explosive powder, numerous rounds of ammunition and six firearms he was prohibited from possessing, prosecutors said.

Authorities also found additional child sexual abuse material on Miller’s laptop and cellphone. Court records indicate he had accessed the material as recently as the day before investigators executed the search warrant.

A federal grand jury indicted Miller on April 17, and court filings state that he has remained in custody since his arrest that month.

Miller pleaded guilty to multiple charges, including being a felon in possession of ammunition, being a felon in possession of explosive materials, importing nuclear material without legal authorization, mailing hazardous materials and possessing child pornography.

US District Court Judge Mark Mastroianni is scheduled to sentence Miller on Jan. 21, 2027.

After the New York Yankees managed just one hit in Game 1 of the American League Division Series, manager Aaron Boone sent out the same lineup for Game 2 against the Tampa Bay Rays.

It took only one trip to the plate for that decision to begin looking like a mistake.

New York’s infield unraveled in spectacular fashion, committing four errors and repeatedly handing the Rays opportunities as the Yankees’ season moved closer to the edge.

Tampa Bay capitalized with a 5-2 victory, taking a commanding 2-0 lead in the series. The Rays can now clinch with a win in the Bronx on Wednesday evening.

Ben Rice supplied virtually all of New York’s offense, launching two solo home runs during the game.

The other six Yankees who came to the plate went hitless, leaving Boone with difficult decisions to make before the pivotal third game.

A lineup change was warranted regardless. After the Yankees’ offense was nearly invisible in Game 1, with several costly mental mistakes on the basepaths, their defensive lapses proved decisive this time around.

The trouble began in the Rays’ first at-bat. Third baseman Ryan McMahon mishandled a ground ball from Yander Diaz, allowing it to bounce off his glove and sail over his head for an error.

Jazz Chisholm then squandered a routine double-play opportunity. His hurried, off-target throw to first landed roughly two feet to the right of Luis Garcia, allowing Diaz to race home and score the game’s opening run.

The Yankees’ third error of the inning came from catcher Austin Wells, who was charged with catcher’s interference after his glove entered Liam Hicks’ swing path. Fortunately for New York, Tampa Bay could not add to its lead in the inning.

Rice briefly restored hope in the top of the fourth, tying the game at 1-1 with a solo homer that traveled down the right-field line.

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Yankees starter Cam Schlittler, considered the front-runner for the AL Cy Young Award, exited in the fifth inning after allowing six hits and recording only two strikeouts.

Once again, however, the defense behind him failed to provide the necessary support.

With runners on second and third and nobody out, the Yankees’ infielders moved in to try to prevent a run at the plate. Every infielder came forward—except Chisholm, who remained roughly seven feet off the infield grass.

Hicks sent a slow ground ball toward Chisholm. Had the second baseman been positioned closer to the grass, he might at least have thrown to first while Jonathan Aranda stayed at third. Instead, Aranda broke for home, leaving Chisholm no realistic chance to make a play at the plate and giving Tampa Bay its second run.

The next at-bat, Chandler Simpson hit a ground ball toward Yankees rookie shortstop George Lombard that bounced off his glove to score Junior Caminero to make it a 3-1 game. Official scorers initially ruled it a hit, then changed it to an error, only to then change it back to a fielder’s choice.

Lombard would commit another mistake when his routine throw to first pulled Garcia off the bag to bring Jonny DeLuca aboard.

DeLuca would steal second, putting him 90 feet away from Simpson. Both were in perfect position to score when Richie Palacios knocked a ball into the outfield to make it a 5-1 game.

Rice’s second home run in the eighth inning was nothing more than window dressing as Tampa Bay surrendered just four hits on the night.

‘Obviously a really rough night, to say the least, from us,’ Boone said. ‘We gotta get over it.’

‘We gotta get over it and we’re playing for our lives on Tuesday night.’

It seems the mental errors on the field transitioned to the manager. The Yankees don’t play on Tuesday. They play Wednesday. 

Wanying Zhang, the glamorous California realtor accused of spying on the son of Taiwan’s president, made her first court appearance Monday as her husband declined to answer questions about the alleged espionage case.

Zhang appeared before a judge in downtown Los Angeles wearing a high-collared designer jacket, black trousers and highlighted hair. She was shackled as her husband, Edric Ding, watched from the courtroom.

The hearing took an unusual turn moments after it began. Zhang’s public defender, Chad Pennington, requested a sidebar with the judge, prompting a roughly 20-minute recess.

When the proceedings resumed, Zhang was asked whether she understood the accusations against her. She replied, “Yes.”

The hearing was then postponed until Wednesday as Zhang “considered retaining private counsel,” Pennington said.

Ding spent the afternoon waiting in the courthouse hallway and scrolling through his cellphone. As he left the building, he was questioned by the California Post about the case.

Asked whether his wife was a Chinese spy, Ding stared straight ahead and said nothing. At times, he also tried to block The Post’s camera.

The court appearance followed Zhang’s arrest at Los Angeles International Airport, where the USC-educated realtor was accused of spying for China. Zhang, who is also known as “Heather,” was detained Sunday while attempting to board a flight to Shanghai.

Video recorded shortly after the arrest showed several FBI agents escorting Zhang, who was handcuffed, through the airport terminal.

The 34-year-old Irvine resident is accused of working with handlers from the People’s Republic of China to surveil Ting-Yu Lai, the son of Taiwan’s president, Ching-te Lai. Ting-Yu Lai is an engineer in his 30s who lives in the United States.

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Zhang, who worked with her husband at a real estate firm, allegedly traveled to Seattle in September 2025 to monitor Ting-Yu Lai, who is based there.

Surveillance images allegedly showed Zhang sitting in a vehicle with an accomplice while photographing Lai’s home and close relatives.

According to the FBI’s criminal complaint, Zhang and other alleged agents exchanged several text messages in September 2025 about tracking Lai in Seattle, where he works for electronics giant Philips.

In one exchange, Zhang allegedly told a Chinese government official that she had spotted the Taiwanese president’s son. “It’s that young one,” she said.

The official then asked whether Zhang could join an audio call to discuss the matter. Zhang allegedly replied that she was recording video of him.

The text messages detailed in the federal complaint are a central element of the government’s case against the California realtor.

Zhang’s arrest is the latest high-profile case in California involving allegations of Chinese government influence and espionage.

Former Arcadia Mayor Eileen Wang, who was disgraced after being accused of acting as a Chinese spy, entered a plea in federal court following a bombshell admission in March.

Former Democratic Rep. Eric Swalwell also acknowledged a prescription drug-fueled sexual encounter with Christine Fang, a suspected Chinese spy also known as “Fang Fang,” according to FBI files released in August.

“We have a problem with Beijing using Chinese Americans for their own purposes in California. They are using them for their own foreign affairs because they are playing the long game to get a competitive advantage over us,” Central District of California AG Bill Essayli said.