Are you interested in cash flow or appreciation of the property?

Think about your end result: do you want to hold onto the property as a rental or would you like to sell it for quick cash?

There's always a first time for everything, and learning how to get into real estate is not exceptional. The issue in today's ReiVRE: Money Talk- Real Estate is – “How to make money in real estate?"

Are you interested in cash flow or appreciation of the property?

Think about what it will feel like to do that first deal. This article will give a big picture view of things to keep in mind when looking for that property. It can often be bewildering to think about what you must do simply to find a property.

When you are looking for your first property to invest, you must first know what you are looking for. This is where you need to decide your criteria regarding what to look for in a property. It is very simple to eliminate certain types of properties when you think through what you want. Think about your end result: do you want to hold onto the property as a rental or would you like to sell it for quick cash? Are you interested in cash flow or appreciation of the property? Asking these sorts of questions will allow you to better qualify the property you are looking for. Finding the first property is a numbers game. You need to look at a certain number of properties to find the ones which fit your criteria, talk with these homeowners to find the motivated ones, put in a certain number of offers to finally get one property.

Do not fall in love with any property. There have been many real estate investors who have fallen in love with a property and not asked the hard questions. This almost always will come back to haunt that investor in the end. Taking the time to be objective will save you a great deal of money. You have to remember that when you are doing real estate, this is a business transaction. At the end of the day, the numbers do the talking. You do not want to become the motivated seller because you ended up loving a property at first sight.

Listen to your team advisers. Make sure that you use a home inspector whenever you go into a deal. This is an objective person who can look at a house and tell you how much fix up work is needed. If you do a certain number of deals, you will get a good idea how much it will cost to fix up a property but you do not have this expertise when you are starting your real estate career. It may cost two hundred dollars or more for a home inspection but if this saves you ten to twenty thousand dollars because you avoided a bad deal, this is worth the cost. You have to think about home inspection costs as a cost of the business.

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Our guest contributor: Larry Goins - For more and a 10 part e-course on how to create your own Ultimate Buying and Selling Machine! Plus over 50 training audios simply go to www.LarryGoinsFreeOffer.com where you will gain instant access

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Real Estate Auctions

How to Get a Real Estate License in Your Local Area?

There's always a first time for everything, and learning how to get real estate license is not exceptional. The question in today's ReiVRE: Money Talk- Real Estate is – “How to Get a Real Estate License in Your Local Area?"

Real estate is an exciting industry that drives new agents in by the droves with its high commissions, friendly faces and the independence to set your own hours, but you will not get anywhere without first having a real estate license. It should come as no surprise that becoming a licensed real estate agent will not only open your life up to a bunch of great new opportunities, it can also start you down the path towards your dream career and secure your financial independence.

Many successful real estate agents are making a very comfortable living in this industry, the commissions are very high and you are free to sell as many homes as you can or want to, your income is a direct result of how hard and how much you choose to work.

Now I’m not going to lie to you and tell you how easy it is to obtain your license, because, well, in some cases it just is not that easy. Every state has different requirements, some of which may include getting college credits or being hired by a broker before you can even apply for a new license, so it will take some work, but just keep thinking about the rewards. Real estate should be a career choice that you put some serious thought into, it will probably require a lot of dedication on your part, but once you have thought about it and made the choice, you are ready for your journey. There are several things that you can do to make getting your real estate license a little easier. Some of these things are:

1. Do Your Research: Each state has real estate laws that specify the requirements necessary to obtain a real estate license. You need to research these requirements to learn what will be entailed to get your real estate license.

2. Cover Your Bases: Fulfill any pre-license requirements there might be. This could include educational requirements depending on the state you are residing in.

3. Train Hard: Prepare yourself for the intense training required to get your license, there is a lot to learn and remember. I would recommend that you go on to the Internet and acquire some sample testing and training materials. These will give you an idea of what you have in store for yourself when it is time to take the actual test. Aside from that, Practice, practice, practice since you may not have been in school for a while, retaining the information may be difficult at first.

4. Follow Up: It would also be a good idea if you check with your states real estate licensing center to see what the post-license requirements might be, before moving forward.

Rest assured that being prepared will make getting your real estate license much easier. The real estate licensing test can be very difficult especially if all of the information is new to you. You are going to have to remember a great deal of data so take plenty of practice tests and take the test as soon as you can after your course work. The fresher the information is in your mind the better you will do on the actual license test.

Several years ago, when I got my real estate license, I chose to go with a local company that offered real estate courses and they guaranteed that I would pass the test with their help. If you can find a company that offers this guarantee you will be much better off, should the first round not go so well. It can save you a great deal of money. The fees to take the test can be expensive and your state may require a waiting period before you can retake the test. Yes, you guessed it, I failed. I had to wait to retake the test but in the meantime I was able to go back to school and retake the course. This allowed me to fill in the gaps I missed the first time. By the way, I passed the next time.

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Our guest contributor: J.Donnovan provides free real estate license information to prospective real estate agent, including information on how to get a real estate license and state requirements for obtaining a license.

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Obtaining A Real Estate License