Part I How to Become a Real Estate Rock Star! (Or at least a successful investor)

If you are thinking about becoming an investor in residential properties, now is the time. Residential properties that have been foreclosed upon and now are owned by banks (commonly referred to as: Real Estate Owned or REOs) are the best bargains for you. Banks want these properties off their books. Banks do not want to own homes they want to own mortgages. To unload these homes, the banks price them below market value. This creates a win-win situation for you as an investor and for the banks. You pick up properties at bargain basement prices and the banks quickly reduce their loss. The old saying, Buy Low, Sell High was never truer than it is in Arizona’s Real Estate market. This is the low point. The lowest point in recent memory.

But wait it gets better. More REOs are coming on the market than ever before. Lenders have been holding back on their inventories to prevent the market from becoming bogged down with these properties and toppling the market. To you, this means, you will have a great variety of investment opportunities from which to choose. Real Estate investing, here I come.

Notice, I said investing. Not flipping. For a new investor, flipping is stressful and difficult. Forget what you have seen on HGTV about flipping. They have editors who cut out the worst parts, shorten the time frame and only include shots of happy, smiling faces. Real life flipping does not come with film editors. The reality is, you can spend a lot more money than you bargained for, run into mind numbing problems and be unable to sell at a profit.

As a Real Estate investor, you will need to be able to hold on to the property until the time is right to sell high. How long will that be? Predictions run the gamut from two to ten years. Yes, this is a Long Term investment. If you are in it for the long haul, you are ready to start on the investment road.

How do I get started? In my next post, I will explain what you need to do to get started on your real estate investment path. RealAz.com