I have also owned many businesses:johnmichael: Laundry Mats, Retail Stores, Flea Markets, Convince Stores, Arcades, Rack Merchandising, Mystery ,Mystery shopping Company, Auction Centers, Answering Services, Vending, And the list goes on.johnmichael: Now enough pumping sunshine up my own skirt LOLjohnmichael: Do understand we will be going over the basics and then step by step jump into the more advanced and creative strategies of locating Real Estatejohnmichael: I do want to cover basic investing strategy for new investors; johnmichael: STEP 1 - Buy a piece of real estate under the most favorable terms and conditions possible with as much leverage (OPM--other people's money) as you can.johnmichael: The art of this game is finding moneyjohnmichael: Money is everywhere folksjohnmichael: How many Dr's in your townsDan_Auito: We are gaining strength in that dept as more and more lenders are finding our home herejohnmichael: The are of OPM is just asking for it!

The result, for tax purposes, is a rental loss of $788.The tax rules on rental losses are different if you're a real estate professional.

If there was a 7% cap rate on the $5,000,000 sample property, it would cash flow $350,000 annually.2) Do you think you would enjoy having professional tenants with long term leases?

It is nice to see the dollar return to some form of strength globally, and our French neighbors may have helped to do just that!

If you don't plan to make a career as a real estate professional, getting a license is probably one of the biggest liabilities a real estate investor can have.

He worked with 3 people until someone was actually professional.

I am very selective about whom I work for and with…I believe in being professional at all times….. including on the internet.

You have to place the strength where it belongs.

Each must establish the fee it will charge for professional services rendered to clients.

Then they go out and find a house that they really can't afford yet and they get into trouble trying to pay for the loan.My advice for newbies:-Do your homework (get to know the markets you want to buy in; know what you want to buy and why)-Put a good team of professionals together to work with-Straighten out your finances and get your financing pre-approved before you buy.