Real Estate Investing Requires Education

I really believe in getting an education in real estate investing, especially before launching a real estate investing career. I have been investing in real estate for 25 years, but I still spend thousands of dollars each year to learn more about real estate investing. To avoid unnecessary risks, you need to know as much as possible. If you make a wrong move in buying, managing or selling your property, you can lose everything, and your efforts will be flushed down the toilet. On the other hand, if you have what I call know-how savvy, you can weather almost any of the financial storms that will inevitably brew around your real estate investing venture.

Here are some of the critical essentials to make real estate investing pay off.

1.You've got to have a solid overview of the business.

You just can't go out and start making offers - even if you have some money. I guarantee you'll lose your money if this is your approach.

Don't think that fixing up houses is a piece of cake. You've got to know what you're doing.

2.You've got to have a good contract.

Picking up a crinkled ole contract document from your friendly real estate agent won't cut it. Most contracts are NOT written to give you the slight edge as a real estate investing professional.

A good contract means the difference in walking away from a closing with money out of your pocket or in your pocket. I have taken home thousands and thousands of dollars from closings - up to $75,000 from my best closing on just a cheap little house. But a fistful of bills at closing is not your only reward for having a good contract. You can get your seller to take care of some or all of your closing costs if you have a good contract. And you can avoid some of the usual buyer costs if you have a good contract. Have a good BUYER'S contract as a real estate investing professional.

3.You've gotta have a good working model as a pattern for your fix-up project.

If you have never tackled the job of remodeling or even fixing up a house, you don't have any idea what needs to be done and what should NOT be done.

Let me tell you from experience, you will be tempted to spend far more than necessary if you want the perfect house to sell. I know, because my wife is always suggesting what we need to do to our houses. Sometimes she is right, but often she wants to dress up a house with items that do not bring return on investment. It's a very thin line of distinction.

You need a model for your fix-up project to establish a working formula.

Let's face it. You can spend a bank full of money in fixing up a cheap little house. And it's easy to over-spend with money you will never get back. But, on the other hand, if you don't spend the right money on the right things, no one will buy your house. The margin of difference is close.

4.You have got to put on the hat of salesman when you get into this real estate investing business.

Your remodeled house will not sell itself. You have to polish to a spit-shine, and make the finished appearance of your house come off as the most desirable house in the neighborhood.

Don't fix up a cheap little house if you are unwilling to show it and sell it. You will lose a big chunk of your profit if you have to list it with a real estate agent.

It's O.K. to sell your makeover house through a real estate agent if you feel deficient as a salesman. But it is important to see your house AS a salesman in order to do your best job.

The key to success in real estate investing is in knowing what you are doing when you sell.

5.Real estate investing is a business.

Real estate investing is not a hobby and it's not a game. It is, however, a slam-dunk, dead-serious, rock-solid way of making money when you learn the ropes. And it just may be the easiest way you have ever earned a living.

But you have to know what you're doing.

You can make money investing in real estate,but you must learn how to do it right. http://CashinHouses.com/

Phil Speer, Ph.D., started his real estate investing career 25 years ago. Without the availability of credit and using only a $10 bill, he purchased $1 million in properties in his first year, and had accumulated $10 million in properties by his fourth year. He was featured in a Wall St.Journal editorial as most successful investor in the Nothing Down Real Estate Movement, and was honored with a Caribbean cruise as top investor of the year. In his hometown of Nashville, Tennessee, he has been a businessman and Human Resources Consultant for 30 years. He is an author, speaker and seminar director. To learn how to profit in real estate investing, even without cash or credit, read his report http://CashinHouses.com/ Subscription is free to his Fix-up Ezine. He and other contributing authors provide free articles and resources on real estate investing at his online "Academy of Advanced Real Estate Investing Techniques" - http://AAREIT.com/

---

How to Prepare Yourself for Owning a Dual Purpose Second Home

If you are thinking about buying a second home, you... Read More

Buying A Home ? Zoning and Architectural Review Board Restrictions

When you buy a home, you need to be aware... Read More

Understanding Opportunity Cost When Investing In Property

While most investors have got involved in property investing because... Read More

Real Estate Investing Is A Better Gamble Than The Lottery

Real estate investing begins when you move to the starting... Read More

Real Estate Local FAQs.

There are many frequently asked questions and any local real... Read More

New or Old House?

A lot of buyers think that a new house is... Read More

Can I Sell My Private Mortgage Notes?

In this country millions of homes are sold every year.... Read More

Buy or Sell First?

When it comes to home buying, the ideal situation would... Read More

Getting Started in Real Estate Foreclosure Investing

Decide to Invest in Real Estate Foreclosure InvestingWith the increase... Read More

Where is Florida Investment Property

Florida Investment Property ? Why Investing is a Wise Decision... Read More

Buying a Home with Zero Down Payment in Irvine, CA

Years ago, the only person that could buy a home... Read More

Investing in Real Estate for Your Retirement (and Now!)

You've probably heard a lot of opposing information about Investing... Read More

Are Signs Important?

Signage, though quite fundamental in nature, plays an important role... Read More

Property Investing Secrets 4

Property Investing Secrets:How to Sell to 100% of the Market... Read More

Fixing Houses: Using Psychology for Profits

Real estate investors who specialize in fixing houses for profit... Read More

Log Homes - What is the Log-Home Lifestyle?

Typical log home company advertisements in popular log home magazines... Read More

Dont be Tempted by We Buy Houses (Updated)

Do you want to sell your home right away? Don't... Read More

A Powerful Suggested Technique for YOUR Home & Property Search

A Powerful Suggested Technique for YOUR Home & Property Search... Read More

Home Equity Loans ? Beware of Appraisal Fraud

A new report by the independent Demos group has revealed... Read More

For Sale By Owner Listings

Selling your home on your own, without a Realtor, is... Read More

Finding a Great Listing Agent for Your Home: 8 Tips

If you've decided to list your home, you'll be paying... Read More

A Singles Game of Real Estate

This discussion leans toward answering questions asked most often by... Read More

Timing Is Everything When It Comes To Buying Homes

The old adage that "timing is everything" especially applies to... Read More

Do I Have To Buy Real Estate Through An Agent?

Sometimes when we are very busy professionals and very rich... Read More

Why Are Mortgage Notes Discounted Anyway?

When real estate note brokers purchase partially paid notes, they... Read More

Equity

Equity is the value of your home minus what you... Read More

How Can Real Estate Investors Profit From The Internet?

The Internet is a powerful marketing tool, but just how... Read More

Beat the Crowd when Investing in Real Estate

We all are thinking about it and some of us... Read More

Fixing Houses for Resale: Three Beginning Steps to Increase Profits and Have Fun

Real estate investors specializing in fixers make higher profits when... Read More

Sell Houses Fast & Top Dollar: Design Psychology

How would you like to start a bidding war for... Read More

Finding the Right Real Estate Agent:: A Guide for Seniors

When considering buying or selling a home, seniors have a... Read More

Unravelling The Real Estate Buying Process in Canada

If you're a foreign national thinking about investing in the... Read More

At Home In Your Overseas Home

Homeownership, in any form, is a big step for most... Read More