Before beginning, you must understand that real estate investing is not a get rich quick scheme. Real estate investing can, and will, make you wealthy, but it certainly won't happen overnight and it will require work. As you perfect your technique and gain experience, amount of work needed to gain a lot of money will reduce, but it will take effort and persistance to make it there.

If you're completely new to real estate investing then only sort of investing strategy you're likely aware of is rental properties. Landlording has been around since there have been houses and people to rent them to, and it will continue to be a wealth builder. In fact, most of 'no money down' real estate strategies you hear about still include rentals as part of their plan. Still, there are other ways to make money from real estate investing out there.

The next most 'traditional' method is to buy a fixer-upper, fix it up, and then sell it for a profit. This is commonly referred to as 'rehabbing' and is a very good way to make a lot of money in a relatively short period of time. Most rehabbers won't even look at a property unless they can make at least $20,000 of profit, and this is usually within 3-4 months time. Rehabbers tend to be experienced investors with available money, or have partners who help provide any extra cash required.

But if you're just starting out you likely won't have access to large amounts of money. One way to get involved in this area of real estate investing without needing any money at all is to 'flip' houses to these rehabbers. What this entails is you going out and finding these fixer-uppers, noting all work required to fix place up. You then place a low offer in to owner, taking into account fix up price and some built in profit. Once you have house under contract you then flip it to a rehabber for a small fee. This can result in several thousand dollars for you, without you having to spend a dime. 'Flipping' properties can be a great way to start your real estate investing career.

After a few weeks, they decided to actually calculate their bottom line with and without her weekly pay. This should not have been a surprise because there was still no extra funds at end of month. Rachael’s second income necessitated extra expenses resulting in a near-breakeven budget once again.

When you consider hidden expenses of a two-income household you must include obvious ones like child care and commuting costs. Add to this -- order-out lunches, and those quickie dinners like take-out or prepared heat ‘n serve selections. Office clothes and dry cleaning will apply to some.

Increased exposure to common illnesses for child in daycare caused Rachael’s absence from work more often than her single co-worker taking another bite out of her weekly paycheck. Rachael’s second salary pushed them into a higher income tax bracket bringing an added burden at tax time.