Investing in real estate for revenue could be a very dangerous and tough proposition these days. The first thing that is required to be aware of is that it needs a tremendous amount of time, learning, experience, and proficiency to be a triumphant investor. If you are fortunate enough to achieve success then the benefits take account of growth (of investment property), rental income, and diverse tax benefits. Instead if you don't do it appropriately, then you may be stuck with illiquid (hard to sell) property that is management intensive. Additional things that you also have to think about include national and local market setting.
On the national level you should cope with interest rates and tax laws, and on a local level your accomplishment will count on economic development a demand and supply of properties in your local community. Thus let's begin with some beginner real estate investing key points and advise.
First and foremost when getting started you need to be very doubtful of those whom you ask for counsel from. The real estate industry is full of self-promoters and scammers. You should be exceptionally watchful of those scam artists who pledge you instant riches and wealth. They come into town holding these so called real estate seminars and bring into play high pressure sales strategies to get you to purchase their real estate program. It is an extended-term commitment that takes years of practice along with trial and error to become successful.
An additional beginner real estate investing tip would be for you to visit online at amazon.com and take a look at the textbooks on real estate. Their books are rated by actual purchasers who obtained the books and are rated on a one to five star scale. A customer assessment with four stars or higher is probably a fantastic book to obtain. To provide an example;
There is a book selling on Amazon right now called - FLIP: How to Find, Fix, and Sell Houses for Profit, by Rick Villani, Clay Davis and Gary Keller. This book has received rave reviews (five stars), and these critical reviews are coming from folks that actually purchased the book.
Another good book on investing that is a hot seller on Amazon right now is Investing in Real Estate by Gary W. Eldred. And if you want to learn the basics in investing whether its finance or stocks and bonds then I would recommend the money expert Jordan E. Goodman.
And finally the last recommendation I would make for beginning investors would be for you to try to find a job in the real estate profession. For example you could get a job working in a realtor's office. The advantages of doing this is that you will learn the in's and out's of the industry before investing any of your own money.
So in conclusion it all comes down to the one ingredient, the one common element that can make or break you in whatever endeavor you seek out in life, and that one important component is EDUCATION. Receiving the proper education in your occupation of choice will ultimately be the difference between your ultimate success or your ultimate failure as an investor.
And finally the last recommendation I would make for beginning investors would be for you to try to find a job in the real estate profession. For example you could get a job working in a realtor's office. The advantages of doing this is that you will learn the in's and out's of the industry before investing any of your own money.
So in conclusion it all comes down to the one ingredient, the one common element that can make or break you in whatever endeavor you seek out in life, and that one important component is EDUCATION. Receiving the proper education in your occupation of choice will ultimately be the difference between your ultimate success or your ultimate failure as an investor.