Basic Real Estate Investment for Beginners

Learn all you can, as quick as you can:

Before committing to an investment property, you should have a fundamental understanding of the real estate market there. For example, be aware that, in general, investment real estate properties are not liquid investments. Barring recent updates in the industry, real estate does not always sell at a moment's notice. In some areas it could take months to sell a property while in other areas (Orlando, Panama City, Miami, Las Vegas) real estate seldom sits on the shelf, be sure to research the market of each CITY not state before you invest.

Consider your cash flow situation:

Make sure you have enough capital on hand to cover any short-term losses due to vacancies between tenants if you plan to rent the properties. If you have problems renting out a unit it may be a good idea to hire a property management company.

Be ready to make fixes quickly and respond to the renter's needs. If you're not prepared to or are willing to be a hands-on landlord, consider hiring a property management firm.

Join a Responsible Real Estate Investment Brokerage:

One of the best pieces of advice anyone can give you if you plan on making a lucrative living in the real estate industry is partner with a trustworthy investment real estate brokerage. Finding the right brokerage can save you thousands of dollars of time and money freeing you up for more important things.

Deicide form of real estate investing is for you:

Is it retail, wholesale, lease/option, sell with owner financing, or rent? Before jumping into the investing game be sure to research each of these forms of investing and make your decision based upon your educational background, personality, and available assets. However, it is strongly recommended you find one strategy and stick with just one.