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Have You Ever Considered Changing Your Career Path To Become A Real Estate Investor?

Nov 16, 2007
Have you been searching for a more lucrative path toward making money? Is your current job causing you to dread going to work in the morning? If that's the case, you should consider altering your career path toward becoming a real estate investor.

Thousands of ordinary people who were looking for a more fulfilling life style have become real estate investors, and many have become millionaires. It's not difficult to learn how to invest in real estate, but that doesn't mean it's really easy to become a highly successful investor. This article will give you a few tips about how to get going.

The first task you have to accomplish if you want to be a real estate investor is to assess your current financial situation. Answer the following three questions honestly before diving into the real estate industry. Do you have a good credit rating? If not, you need to fix your credit rating. Are you able to borrow the money you need to buy homes, and make needed repairs if necessary? Will you be able to deal with the added stress of juggling your current job with moving toward full-time investing? Do you have the time to be a real estate investor?

Those are all tough questions for some people, no doubt, but many determined people have made the transition successfully to real estate investor.

If the questions above didn't give you the willies and frighten you away from the idea that being a real estate investor is the right road for you to follow, then the next best approach for you is to research the industry to get a better understanding of the home purchasing process. Study your local real estate market. Learn as much as you can about being a real estate investor before taking the plunge. Learn how money makes money. Learn the biggest negatives of investing, and what pitfalls other beginners have experienced. Everything you learn about real estate investing during this initial research process will help you father down the road as your career progresses. Adopt the positive attitude that says there is no such thing as pointless research.

When you think you're ready to begin investing, move forward cautiously. Use all of your new investment research resources to minimize any financial risk you may need to take to purchase your first property. If you get off to a good start, that's the best way to help you stay optimistic when you get too ambitious on your next project and everything doesn't go as planned. Make your first project as much of a "low risk" as possible. Don't allow your first purchase to be a huge project that promises to make you a fortune. Take your time, and simply try to make a modest profit. Quite often, when we try to take our life in a new direction we get in a hurry and make costly mistakes. Just get your feet wet first, then see where things stand.

Also, before you start your first investment project, decide which type of real estate market you want to focus on. For example, will you buy foreclosures, repair them if needed, and then resell them? Foreclosed properties are a hot investment market right now - unfortunately. Or will you buy properties to rent? Or are you interested in long-term speculation properties that may pay off big farther down the road, like buying a few acres of farmland that is expected to be surrounded by commercial development in the near future.

Moving your career path in the direction of becoming a real estate investor could be the best road to financial success that you will ever travel. There's a lot of cash to be made in real estate, and it is up to you to figure out how to get your eager hands on some of it. Your real estate investor career change may seem like a bit of a risk in the beginning, but if don't get too ambitious before you understand this new game your playing, the financial and personal rewards will be well worth it.
About the Author
Jefferson Hennessy is a feature article journalist, Webmaster, article marketer and real estate investor. Now you can learn how to make a fortune in today's crazy market from the perspective of a millionaire with 20 years of real estate investing experience: http://www.realestate-millionaire.com
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