This step could involve anything from paint and elbow grease to converting an apartment complex to condominiums or timeshares.johnmichael: STEP 3 - Sell or finance the real estate in some way to be able to compound profits and find more real estate to follow the same three-step process.johnmichael: The simple 3 steps will in as little as 5 years provide you with the income that will just blow you away!

Back in the day I used to run into lots of folks at our local REI club who were all set to jump right into any combination of the following, Subject 2 / WRAP / Lease Option / CFD / Seller Carry Back / you name it.

When one has a dream - follow the dream!

Just because you don't have current assets doesn't mean you are off the hook -- the courts can/will file a deficiency judgment against you for any unpaid liabilities and these will follow you until paid off.Make sense?

The key is educating yourself and having the willingness to follow what you've learned.

I just thought about all the rules and regulations you have to follow as a realtor that you don't as an investor.

But the ones that show me places and the more experienced ones have something in common; NONE OF THEM FOLLOW UP.

Then I realized that by following through on my dreams of being a real estate investor, I was already retired at 30, I drive my corvette or harley to look at homes all summer, then relax at the pool with my wife when I want.

Here's an interesting story that I read today.http://www.bobparsons.com/My16Rules2006.htmlThe above (or following) article (or rules for survival) is included with the permission of Bob Parsons (http://www.bobparsons.com) and is Copyright © 2004-2006 by Bob Parsons.

3% for the listing sidethen you offer 1.5% to the cooperating (buyer) side.total 4.5%how many buyer side agents are going to cooperate for 1.5%...some but a lot less than if it were 3%...hence the 6% listing.for all the time and effort that goes into getting a listing, doing the paperwork, marketing the listing - open houses, email contacts, follow ups, showings, ads in paper, net, etc. - THEN handling the closing process - dealing w/ underwriters, banks, insurances, inspections, etc...3% - WITH A FULL SERVICE realtor is CHEAP!!!!