The most important part is to heavily screen tenants before renting so that you weed out the bad apples.

Networking is extremly important in this business.

The most important thing that I can say is in the beggining be very careful not to screw up and take on a deal that will sink you or set you back a long time.

If you and others around you question what you do and thing, and you veer away from making decisions you are simply stopping yourself from reaching your fullest potential as an investor.You are allowing this self-doubt and doubt from others to squeeze out your creative energy and inspiration that will make you a success.So what is stopping you from making that important decision in selecting a real estate education?

Let me point out a few keys to successful investing.Whenever ANYONE offers you a deal, get ALL THE DETAILS, who, what, when, where, and most important, HOW MUCH?

Keep one vary important statement in the back of your mind when investing "The Devil is In the Details".

Everything is more expensive there either because it has to be imported or simply because of tourism.

For example, if the house is a foreclosure and the seller is a bank, a cash offer may get you up to a 5-10% discount, in my experience.If the seller is a private seller, it's really going to depend on how desperate the seller is to get rid of the property and how much money he "needs" to make on the deal.For example, when I'm selling my properties, I like to get cash offers because it means less risk that the transaction won't close and it generally means a faster close, both of which are important enough to me that I'm willing to give a discount of up to 10% (depending on my profit margin for that particular property).Now, that said, some sellers are trying to get every penny out of their property, and the benefits of a cash deal (less risk, faster close) isn't worth trading any profit.

In the high-end, the projects tend to sit on the market longer and the construction interest tends to chew into the margin too far to make it worth the risk.b.I also tend to think the structure of the deal is extremely important.

MOST IMPORTANTLY, you should go into the archives of this forum to find the correct formula to help you calculate your profit on any given property - profits should already by known when you purchase.