Real Estate Investing - Ten Myths

Written by Steve Gillman

Is real estate investing only forrepparttar wealthy? Can you buy with no money down? Do you have to knowrepparttar 148375 "right" people? Let's answer by looking at some ofrepparttar 148376 myths of real estate.

1. Real estate investing is forrepparttar 148377 wealthy. Money helps, but my first real estate investment was a $3,500 lot - which I sold for a profit two weeks after I bought it. Small deals, partners, low-down deals, or just putting aside $7 per day for a couple years until you have enough money for a downpayment - these are some ofrepparttar 148378 ways to start with a little and invest in real estate.

2. "0 down" isn't possible. I sold a rental property for $1,000 down because I trustedrepparttar 148379 buyer to makerepparttar 148380 payments, and I wantedrepparttar 148381 9% interest and higher price. He could have gotten a cash-advance on a credit card for another $30 per month and made it a "0-down" deal. "No money down" means none of YOUR money down, and yes, it happens.

3. "0 down" isrepparttar 148382 best way. If you don't invest some of your own money, you'll have higher payments. You'll also spend more time finding suitable properties, and pay more for them (generally cooperative sellers want more for their cooperation - I do). There are 0-down deals out there - they just aren't always worth doing.

3. You need experience. Experience helps, but you get it by investing. Start with common sense, ask how you can lose money, be willing to learnrepparttar 148383 numbers, and you can start where you are.

Do you worry about credit card debt and your card payments?

Written by Tony Bishop

Do you worry about credit card debt and your card payments?

It's one ofrepparttar most expensive loans we can take out, so why do so many people have credit card balances that they don't pay off each month? Perhaps it's becauserepparttar 148358 application form comes inrepparttar 148359 mail, and we can just fill it out, mail it back and expect to get a new shiny card within a few weeks... especially if we're "pre approved". It's also very handy to have credit cards because they're so quick and simple to use to make purchases. Just handrepparttar 148360 card over, swipe and sign (or input your pin on newer cards). On top of that, there arerepparttar 148361 dozens of introductory offers on new cards, with lower interest rates than all your current cards. Surely you'd be crazy not to accept their offer of a great new card at a great new rate? Ahh yes, but that low rate soon reverts back torepparttar 148362 same rate as allrepparttar 148363 other cards you have... but now you have one more card to rack up debt on!

Apparently,repparttar 148364 average American household has 13 payment cards! Thirteen! Why so many? Well, presumably,repparttar 148365 $1.1 TRILLION worth of credit card purchases made in 1999 has to be spread out over a few cards or people would start to noticerepparttar 148366 massive amount of debt they're taking on! If you pay off your card every month, credit cards are actually useful tools to allow you to make payment easily and use uprepparttar 148367 "interest free period" each month. You may buy that coat on June 1st but not have to "pay" for it until you pay offrepparttar 148368 card some time in July. But did you really needrepparttar 148369 new coat inrepparttar 148370 first place? What would have happened if you HAD to pay in cold hard cash forrepparttar 148371 coat? Would you still have bought it? Hmmm.

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