The Eric Cleton Self-help Guide To The Initial Steps In Real-estate Investing Part 3

Eric Cleton and I often work together on real estate deals. I've been taking you folks through the things you really need to know to make big money and avoid losing money and we have reached the final article! By the end of this you will know everything you need to, to form your own investment strategy and start making big bucks. Real estate investing is not difficult you just need to do it the right way and by using these tips you can!

A quick re-cap of the areas we have covered within the previous two articles (just for any of you who have not had the chance to browse them yet!)

1. Make a study of the market.

2. Fix your budget.

3. Know what type of property you want

4. Check you and your developer have the same expectations

5. Know your developer's real reputation

6. Get finance sorted first

So now we have the final three and I think they are just as important to success as the 6 we have already covered.

1. Location, location, location. Real estate is all about location and real estate investment is no different. You need to know whichever location you settle on inside out. More than that, you want to be looking for an up and coming area whether that is domestically or abroad because that's where all the money is. For example, Costa Rica was a great opportunity maybe ten years ago, now there is still some money to be made but you are picking up the crumbs that the early bird investors left behind.

2. Long-term or short-term. This should really have gone earlier I admit it, but the ideas were just flowing! One way of helping you define what type of opportunity you are interested in and what type of investment to make is to know if you are a long or short term investor. This will decide whether you should get into flipping properties, or look at rental opportunities. Knowing which type of investor you are will help out a lot. Without this information you will likely make a few bad choices before you get onto the right path.

3. Finally... take your time. Seriously, this is one area that causes huge amounts of heartache. People get too excited or form an emotional attachment to a particular property or piece of land and they just dive in. They do not take the time to let things settle, get other opinions, or to check if there any problems not immediately evident. If you take some time to consider the information, do some background checks, get a specialist to check and re-check any technical documents you will not get a nasty surprise later on in the day.

So we are done! Like I said, use this information to put together a kick-ass real estate investment strategy that fits your personal circumstances. With the right strategy you can make serious money and avoid falling into investment traps. For more Eric Cleton reviews, guides and other real estate information have a look at my website.