Real estate investing is one of three ways to make you rich besides investing in paper asset like stock or establish a business.
With real estate you can get passive income from the rent fee.
Real estate investing is really a fun thing to do, but it takes a lot of time to master the art of property investing.
The key is buying property below it's market value and getting passive income by renting the property.
There are several ways where you can get cheap property.
People will usually sell property below its market value if they need the money fast.
You can find these people from public auctions, divorce settlements and bank foreclosures.
In that situation the price is not the important thing for them, but the quick settlement is.
Buy buying below the market price, you can sell it immediately at market price to get fast profit.
You can also find old listing and ask if their property is still unsold.
The person selling might lose hope of selling the property so you can get lower price.
You should also read the newspaper every day to find your target.
It's not easy, but if you put a lot of effort there you will get the result.
Watch for property sell off ads due to deaths, divorce, or immediate cash requirements.
Try calling people who want to avoid real estate brokers since it will cost the seller commission.
Since the owner is saving money on the commission, they probably can offer lower price.
Real estate brokers are another place to look for property.
They have the database, and can help you in finding the property that fits your criteria.
So, real estate investment is all about finding good deals which takes a lot of effort.