Even the government is deep in debt and heading toward insolvency.

I read up on people who have a deep knowledge of markets (i.e.

Another option is to partner with an experienced investor or mentor until you are in a position to work deals on your own.Take a deep breath and one step at a time!

It really is a breath of fresh air to see someone willing to invest adequate time in real estate learning to determine what areas in which you're most interested.Since your local market isn't as friendly as you might like, you're learning what you can about areas that make sense from a profitability standpoint.An idea you touched on briefly is a sensible one -- areas near college campuses.

When the seller lets you know what price they would like to get for the property show a surprised look, or take a deep breath.

Buy the ugly house and make it a hair nicer than any of the other houses on the street.The number one rule in REI is to always buy from distressed sellers at deep discounted prices.

Betting on appreciation in this market...well, I'm not holding my breath.

For example, many homes to the untrained eye appear to be in bad shape and can warrant deep discounts when in actually they are only cosmetic repairs that can be fixed for a fraction of the cost.

Was going to see if I could buy the 2nd through my LLC (formed after using great advice here, thanks BTW) at a deep discount, and then obviously be compensated for the full $232k default amount at closing (have a potential offer coming in soon).

The proposal to place both mortgage giants, which own or back $5.3 trillion in mortgages, into a government-run conservatorship also grew out of deep concern among foreign investors that the companies' debt might not be repaid.