Real Estate Investing Tips

Real Estate Investing is possibly the oldest way to obtain and acquire wealth in the world.  Follow these common sense tips to succeed as a real estate investor:  

• Always look for properties in stable or appreciating markets with good school districts.  You can make money in distressed areas but you have to be more careful and the odds are not in your favor.

• Always look for properties in areas you are familiar with.  If you don't understand the neighborhood you should not invest in it.

• There are always plenty of properties to buy, never get in a hurry unless the deal is incredible.  The best real estate investors often pass through many properties before they find that one incredible deal that meets all their criteria. Five or ten great properties are worth 20 or 30 marginal properties and one bad property can be disastrous if it wastes your time and ties up money that could be used for other deals.

• Write down the criteria that will make a great real estate deal for you and stick to it.

• Buy properties that need cosmetic work, not major work.

• Never buy properties you would not live in yourself.  Bad properties attract bad tenants and are often difficult to sell no matter what the price.