Be careful on the guru courses, as they often charge way too much and only give you a piece of the puzzle in an attempt to "upsale" you to spend more.You can also check out my website for info.

Joseph,A land trust (often called an Illinois Land Trust) is an entity to hold property.

If your offers are rejected, make a note to follow up, as often as you like, with a phone call.

I manage a 4-plex (2/1 units with at least a couple of tenants in each) in St Petersburg, FL with one coin-op washer and one coin-op dryer.

I quite often get pre-forclosure properties and alot of bank owned properties that are below market value but need to build a list of investors who are willing to move fast on good deals.

These are some of the biggies:1.Divorced – Often 2 parties must agree, distress sale, “don’t wanters”, bad memories2.Death – Executor, quick sale, high emotions, be considerate, tactful, caring3.Relocation – quick sale, quick closing4.Downsizing, “empty nesters” – maybe will agree to owner finance?

They often prefer brown and gray everything, with a big garage, a shed, a sprinkler system and a privacy fenced back yard for barbeques and lounging in private.

Too often people are so excited that they have found ANY property and that they can afford it these days that they don't take the time to consider everything you have stated in your article.One big newbie mistake and you can ruin your landlording future for the rest of your life.The only thing I would tack on to the end of your article (if you don't mind me saying so) is to make sure AFTER you have selected a great property and are ready to rent it, that you have someone that REALLY knows what they are doing to mentor you through the actual rental process... making sure all of your docs: application forms, lease agreements are legal for the state their property is in and not inadvertently violating HUD laws.

Reprinted with permissionWhen choosing an area where to buy a rental property, there are several things to consider including, distance from your home, supply of potential tenants, average rents you can collect and the ability of tenants in that area to pay you.I would choose property where people want to live, close to shops, parks and decent schools, and in a well-kept neighborhood.

Sometimes it so I can DO IT MYSELF, quite often it's to know when to CALL THE PAID PROS.