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4. Some investors have a "knack" for making money. Sort of. More accurately, some just took time and risk to learn market and continue their education.
5. You need to know "right" people. It helps, so start process. Talk to investors, real estate agents, landlords, etc.
6. You have to be great negotiator. If you learn to run numbers and make offers based on them, you can be worst negotiator and still do okay.
8. You need insider knowledge. Understand one deal, and you are on your way. Read and read more, but best "insider" knowledge comes from experience.
9. Fixer-uppers are safe. People have idea that doing work themselves is safest way to assure a profit. Not true. Mis-planned "fix and flips" have bankrupted even experienced investors. Most poorly purchased rental properties will only eat a little money every month.
10. The key is lowball offers. The numbers have to work, and you need a plan. You can offer MORE than market price and make money investing in real estate, if you understand creative financing - and how to do math.
Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com