Real Estate Investing

Written by Linda Alexander
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Real estate investing, like any business, begins with a solid plan. You can't take a road trip without a map, so why start a business without a business plan? Set your goals and figure out the steps necessary to get there.

Before you begin, learn all you can about real estate. And keep educating yourself throughout the life of your business. No, you can't have million-dollar-making information for ten bucks. You'll have to invest in a good course. But that doesn't mean you have to spend thousands either. Learn the way it works for you (books, seminars, tapes, or mentoring), and you'll be on your way to a lucrative real estate business in no time.

Types of Real Estate Investing

You might want to do a traditional method of real estate investing like buying, renting, and holding it for years. Or, if you have more time on your hands, you might want to buy fixer-uppers, fix them up, and then sell them at a profit. This is a little bit more difficult to start, unless you have the cash to put into the renovations.

Another method of real estate investing is investing in paper. Rather than investing in the actual real property, you buy notes. It's cash income with fewer headaches than remodeling homes by yourself. Other ideas are buying mobile homes in parks, and sell them on land contract, or you might be interested in tax leins. Whatever you decide, start slowly and build. Just like anything else you learn, make mistakes on the smaller projects, learn from them, and then move onto bigger projects when you are ready.

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