adding value to the tenants and facilitating repairs that lower energy costs. TIP #10 Never fall into the trap of thinking that you will get rich quick in real estate investing. Getting rich overnight will not happen regardless of what some of the so called “experts” tell you. Real Estate takes some time

TIP #1 Never be one of those people that spend thousands of dollars buying books, tapes and seminars and then put all of that information on a bookshelf and never look at (or use) it. It could be the biggest financial mistake you ever make. TIP #2 There are many potential investors who realize real estate investing is the best way to accumulate wealth and venture into the purchase of properties without knowing the basics of real estate investing. Investors like this are almost certain to get into financial trouble. Learn the basics before you jump into your first deal. Consider working with a seasoned investor on your first few real estate investing deals. Take a mentor, attend classes and implement learning from books and tapes to follow in the footsteps of those that are already successful in their real estate investing ventures. TIP #3 If you fear Realtors will view you as competition, enlist their help. You can easily have Realtors all over your area working to help you find more and better real estate deals. As they get a commission for each sale, they are eager to find you deals. Be sure and be ready to take those they bring you as you want to work with them in the future too! TIP #4 Delays in a real estate project leaves real estate investors open to vulnerability from shifting economic factors. If the housing market cools off and interest rates spike before you get your house on the market and sold, you could be left with expenses like mortgage payments, insurance premiums, and property tax added to your balance sheet. Add an additional 10 percent to your initial calculations for these holding costs when analyzing any real estate. Real estate investing is an altogether different kind of business. People just like you and me buy and sell properties and earn tens of thousands of dollars, often within just a few days of getting into the business. ,A smart investor knows that a real estate property selected with care can be extremely rewarding. It can render above 100 percent ROI per year, along with good value increase over time. That is why real estate investing has become the most preferred form of investment by %smart% investors. TIP #5 An alternative to real estate investing is paper investment, where an active real estate investor can supplement your portfolio or even make a full-time business in lieu of actual physical ownership of properties. This offers the real estate investor a way to invest in real estate without the day-to-day logistical headaches of more traditional investing. TIP #6 The most stressful part of real estate investing is during the sales phase, where there are so many things that can go wrong and your profit depends on making everything smooth and quick. Most sales do go through smoothly, yet the uncertainty and anticipation can keep you worrying late into the night. This is especially true if you choose to sell your real estate on your own. Selling your first investment property can be confusing and stressful if you do it on your own without the help of an experienced real estate investor or agent. For your first few deals, seek the help of those that have prior experience and never underestimate the power of your team! TIP #7 Should you decide to use one, a real estate agent does do a lot of leg work during a sale, but all of it comes at a cost. Hefty brokerage commissions of 6% or more turn many investors off of the idea of using an agent and onto the idea of selling the property themselves. If this sounds like something you would like to do, follow these steps for selling your real estate yourself. Step 1. Calculate the asking price for the property Hire a professional appraiser to price the home or check the sales prices of comparable homes in the same area of your real estate. You can visit your local court house and compare similar recent real estate sale prices within a few miles of your property. Many court records are now available on the Internet. Always take into consideration the current real estate market. If the market is a buyer’s market, you may have to lower your price. If it is a seller’s market, you might be able to ask more than the market value for the property. Step 2. Market the property Advertise the property and show it to perspective buyers. Make sure you have the necessary purchase contract forms. The purchase contract will need to be signed by you and the buyer once you have negotiated the deal. Step 3. Close the deal. You will need a closing agent to perform the closing, which may be an escrow company, a title company or real estate attorney, depending on your area. There is a lot of paperwork needed here as you need to provide the buyer with disclosure statements and he will need to provide you with a loan commitment letter. Inspections are also performed during this time and a title search will be completed by your closing agent. To complete the closing, you will need to meet with the closing agent and buyer to sign the paperwork. pay any closing fees, pay off the mortgage and pay or put aside any taxes owed. Your closing agent will help you with all these details. The closing phase is the busiest (and most exciting) time of selling your first property in real estate investing. The closing table is where all of your hard work pays off and you get to walk away with your real estate investing profits. TIP #8 Once you begin your real estate investing career, you’ll wonder why you waited so long to begin. Do not allow yourself to become complacent! Many investors fall in love with their real estate investing once they see how well it is doing. When cash flow has been going well each year, they fall in love with their tenants or at least get so friendly with them that they do not maintain rental standards that keep the price where the market will bear. Or, they see how appreciation has worked its course and fail to watch for signs of falling prices because they want to sell only at the highest price (yes, they get greedy…) Never fool yourself into thinking your property is doing too well to sell or trade up because your cash flow is considerably higher than when you purchased the property or that the appreciation swing will never end. It always does and you as a real estate investor have to pay attention to it. TIP #9 Selling rental real estate isn’t like selling houses you live in. You can paint any house and get a little more because it looks nicer. Rental properties, especially larger ones, are different because they are bought by investors who look at income more than new paint or other cosmetic repairs. Look for ways to raise the income on these rental properties and you increase the value to investors which relates to more profit in your pocket at sale time. There are several ways to increase the income on a rental property including raising rents, adding value to the tenants and facilitating repairs that lower energy costs. TIP #10 Never fall into the trap of thinking that you will get rich quick in real estate investing. Getting rich overnight will not happen regardless of what some of the so called "experts" tell you. Real Estate takes some time, effort and knowledge to do it with minimum financial risk. Remember that YOU can do it, too! You can join the millions of investors who create sizable incomes through real estate investing, you simply must understand that it is not an overnight process and stick with it! Additional real estate investing help. The trick in real estate investing is to satisfy the seller’s needs and win the seller’s trust. Then put together a deal that works for both parties. Write it up, sign it and reap the profits! You need not be a millionaire to do real estate investing, you simply need to be focused on a win-win scenario.