Investing in real estate? Be wise like an owl, not quick like a bunny

Greg Nino recently posted has some great advice, some of it tactfully worded, for prospective investors in real estate.

Like Greg, I have heard it all before, and I don't spend time working with investors who won't provide proof of the following important criteria:

- ability to follow through on a purchase with cash or financing already in place

- loyalty; or at least appreciation for all my research, expense, and time to check out properties on their behalf

- most of all, that they'll listen when I tell them what neighborhoods they won't make any money in.

The low prices for real estate in San Antonio are starting to draw investors back. And rents are continuing to go up, along with the number of foreclosures, short sales, and REOs coming on the market

If you want to speculate, that is, remodel and flip a property for capital gains, I can help you. But it's going to take time to identify a house, make the repairs and updates, and get it in showing condition.

If you want to invest, i.e., buy and rent for cash flow, I can help you with that, too. And it's going to take time--even more time. You won't make a profit for a few years, but you can have a solid investment.

These days, there are no shortcuts in real estate investing. That's something the real-estate seminars and gurus may not tell you.