Home

About The Author

Real Estate Investment for Beginners TABLE OF CONTENTS

Getting Started

Get Started Early. The Best Time Is Now

Use Private Investors to Kick-Start Your First Deals

Believe In Yourself

Take Action

Listen Wisely

Become Involved With Other Investors

Educate Yourself

Make the Right Partnerships

Invest with Little or No Cash

Set Goals

View it as a Business

Become a Specialist in Your Geographic Area

Put Your Knowledge and Education to Use

Start a Positive Cash Flow from Day One

Plan and then Put Your Plan Into Action

Be Accessible

Follow-Up

Have Realistic Expectations

Maintain a Sufficient Cash Flow

Establish Lender Relationships

Develop a Business Plan

Exhibit Confidence

Understand Property Values

Understand the Anatomy of a Real Deal

Only Make Promises Which You Can Keep

Keep to Your Word

Ask Questions

Buying

ALWAYS Make a Thorough Inspection of the Property

Check the Legal Status of Each Property

Spend Your Time on the Right Properties

Understand the Difference Between Profitable and Expensive

Calculate Your Ideal Purchase Price

Understand the Makeup of a Good Neighborhood

Look at the Big Picture

Consider the Layout

Buy Below Market Value

Don't Take "No" for an Answer

View a Property Before Making an Offer

Only Deal with Sellers that are Motivated to Sell

Set Aside Preconceived Ideas

Verify Information and Numbers

Use a Mix of Funds

Buy Low

Structure More than One Purchase Offer

Obtain Legal Advice

Avoid Weasel Clauses and Too Many Contingencies

Utilize Various Financing Methods

Take it Slow and Easy

Think Like a Homeowner

Renovating

Outsource the Repair Work

Develop a Timeframe and Stick to It

Spend Your Time Where It Counts

Limiting Repairs

Make Necessary Repairs

Correctly Estimate Renovation Time

Stick to Your Budget

Remain Objective

Do it Right

Hire Professionals

Add Curb Appeal

Obtain a Professional Inspection

Selling

Research the Market

Set a Minimum Profit Target on Each Deal

Check on Licenses or Permits

Use a Property Manager

Understand What You're Selling

Use Lease Options

Understand the Advantages and Disadvantages of Flipping vs. Holding

Understand the "as is" Value

Make Correct Estimates on Repair Costs

Make Accurate Profit Estimates

Maintain a Personal and Emotional Distance

Maintain Sufficient Insurance

Retain ALL Your Receipts

Select Qualified Tenants

Take Advantage of Tax Savings

Research the Market Before You Buy

Select the Right Agent

Be Realistic About Your Ideal Price

Understand the Factors that Affect the Sales Price

Lack Of Action

Avoid Procrastination

Avoid Delays

Plan and then Move On

Liquidate Property When You Can't Afford It

Conquer Your Fear

Taking Care Of Business

Hire an Accountant/Book-Keeper

Set Up a Database

Be Prepared to Spend Money to Make Money

Set Up a Team of Experts

Maintain Your Values

Use Leverage

Understand Equity

Be Willing To Accept Help

Develop a Marketing Plan

Use Direct Mail

Network

Replace Hope with Planning

Plan for the Future

Be Willing to Learn

Use Other People's Time

Have a Plan B

Be Persistent