Sudeira

I’m a beginning real estate investor, and would like to know of resources (i.e. books/people/internet) where i can get info on buying houses for resale and for rentals. But just want to gather information that will keep me from making costly mistakes and avoid pitfalls.

This question is echoed by many people across the country that are looking for the doorway that leads them out and onto the path of real estate investing.  But that door is hidden and often times locked or at least damn sticky.

#1 Piece of advice for new real estate investors – Don’t get suckered!

When you are just starting out, everyone and their cousin wants to sell you the secret to this and that.  Everyone has a path to fortune in just minutes a week.  What?  You a bridge to sell me too? 

There are no secret formulas to real estate investing!

I am sure I am going to tick off all the ‘Gurus’ with that statement, but it is true.  No Guru has a secret formula, there is no magic website that has direct and secret access to buyers who are giving away homes.

Guru real estate trainers have one agenda; that is to give you enough information each time to keep you coming back and buying more, hoping the secret to making a fortune is right around the corner.  They have all made their money doing various things and are now just leveraging that to make even more money.  Honestly, do you think Donald Trump has ever done a short sale on a single family home?  I bet not!

So rule #1 is avoid the so called gurus and the hucksters and the websites with golden promises.  What you need grasshopper will not be found there.  Take your time and start reading articles on sites like  Bigger Pockets where other real estate investors hang out.  There is plenty of information to get started with there. 

If you want to get some books on real estate investing then just be sure that they are recently published.  The world of real estate investing is constantly changing and while a book may have been a great resource for hot strategies 5 years ago, now it is out of date.  Books can give you some good background info on the business and highlight the big principles, but they are just the start of a foundation.  You wouldn’t want to go to a doctor that had only read the course manuals would you?

Next time we will go over my #2 piece of advice for would be real estate investors; Picking Your Poison.

Real estate investors are a diverse bunch. They tend to be dreamers and mavericks. Investors are not born. They are often a study in how to pull themselves up by their bootstraps. They are in training for success. Here are some key traits of a successful entrepreneurs:

- GOAL DRIVEN. Staying focused on a clear goal is often one of the most difficult tasks. The more focused the real estate investor is on doing what he/she does best, the more likely they are to succeed.

- TEAM ORIENTED. Most successful real estate investors recognize that they cannot build their business alone. They must build a team and delegate responsibilities.

- SKILLS ORIENTED. The astute real estate investor makes sure that his team possesses a diverse skill base.

- TECH-KNOWLEDGEABLE. The real estate investor must possess some knowledge about technology and take the initiative to implement that technology

- FLEXIBLE MINDED. The successful investors is sensitive to the changing marketplace, competitor strategies, and customer (tenant) preferences and adapts services accordingly.

- BOTTOM LINE ORIENTED. Making money – and profits – requires managing money successfully. Being financially astute, carefully managing vendors and suppliers, and hiring the right team of financial advisors can all help when it comes to your bottom line.

- FUTURE ORIENTED. Successful entrepreneurs do not get overwhelmed or consumed by day to day problems. They have a vision for the future and make an effort to understand the trends and forces that will impact their ability to achieve that vision.

Are you working an out of date strategy? Are you still buying in your hometown or markets that have lost their steam? To become a multimillionaire, you need to be working the right strategies and you need to have access to the right deals around the country.

To sign up for information for a FREE Real Estate Investing Webinar Series that will cover wholesaling, lease options, foreclosures, short sales, and many other investment strategies to really make money in this crazy real estate and financial market, visit http://www.WholesalePropertyGroup.com

We are the best in the business finding well below market wholesale property for real estate investors all around the country. Our current virtual marketing system allows us to find, with ease, the very best wholesale deals available.

Unfortunately I just don’t have time to renovate and rehab all of these unique deals myself. In those cases I can pass these remarkable deals on to you. If you are a seasoned investor, bargain hunter, or if you are just starting out and are looking for colossal profitable deals join http://www.WholesalePropertyGroup.com

Article Source: http://EzineArticles.com/?expert=Eric_Jozwik

In reading through the real estate articles as I do every morning, my eyes fell on one entitled ‘Buying Pre-foreclosures’.  Opening it I found that it was a nice little article on how you can score big rescuing homes from foreclosure.

The best thing about pre foreclosures is the prices that are associated with them.  In most cases, the owner has no choice but the sell the house, and therefore will listen to just about any offer that he receives.  Due to this very reason, you can find pre foreclosures for sale at nearly 50% off market value.  This is an ideal time to purchase, especially if you are looking to save a lot of money.
Buying Pre-Foreclosures

Ok, that is all fine and good, but I think they are missing out on a few things.  Primarily, this was a strategy that worked better a couple of years ago when homes were appreciating and people actually had positive equity in their homes.  Then you could come in, scoop up a home and do all sorts of things like sell it on a land trust subject to existing financing or roll it into a lease-purchase.

The problem is that few pre-foreclosure homes have any equity left!

With homes across the country taking record losses, you almost always are going to find that properties in pre-foreclosure are upside down and in a short sale situation.  Which is a whole other beast unto itself.  Can you still find homes that this will work for?  Sure! But they are far and few between compared to a few years ago.  This doesn’t stop people from selling you their snake oil plan for buying pre-foreclosure homes and making a killing at it.

With my curiosity on the subject piqued about what people are doing with this strategy right now, I did a quick web search.  What I found is a lot of people ready to sell you their ‘secret formula’ to getting rich buying and selling pre-foreclosure homes.’

I am sorry, but I always am a bit suspicious of people selling you their formula for getting rich. A true value at only $97 of course!  Why are they not out making money doing what they purport to be experts at instead of selling eBooks? That never has sat right with me.  Of course what really gives it away is that when you are reading their websites and hit the words ‘instant wealth’.  Real estate investing is a long term business, not an over night get rich quick scheme. 

Save your money and don’t fall for the hucksters selling you get rich quick real estate plans.

If you want to learn real estate investing, there are better ways!

Take it from me, you can’t learn everything you need to know about buying pre-foreclosure homes from reading an eBook.  If you really want to learn how to invest in real estate, you need to be learning it from people that are actually doing the types of deals you want to do, not someone making a living selling eBooks.

If you are looking for some rock solid real estate education, contact me and I can put you in touch with the people that can really deliver.  Until then, don’t fall prey to the get rich quick schemes!