Despite the recent bursting of the real estate bubble, real estate investing remains a very lucrative way to create wealth.  Just look at the mistakes that others have made, learn from them, and don’t repeat the same mistakes.

It really is that simple.  But how do you get started?  Here’s a quick roadmap for getting started in real estate investing in the Atlanta market.

Establish Your Goals – What are your goals for investing in real estate? Everyone is a little different with various goals and objectives for getting involved with real estate investing.  Below are some common reasons for beginning investors.

• Get rich quick – Yea, right. Investing in real estate is hard work and it requires both time and money. That said, we’ll show you how to increase your odds for success.

• Additional cash flow – If you’ve read Rich Dad Poor Dad, you’re probably ready for some cash flow opportunities.  This is a great strategy but make certain that you buy at the right price. If you pay too much for your properties then you might find cash flowing in the wrong direction.
• Buy and Hold - Real estate is a great investment for wealth building as it (almost) always appreciates in value.  The key is to buy smart as to cover your short-term risks.
• Fire my boss - Most beginning real estate investors have goals to quit their job and become their own boss.  I strongly suggest you keep your day and start investing “on-the-side” until you get up to speed on the nuisances of your market and you truly understand  risks.

Find Your Favorite Niche – There are so many different ways to make money in real estate.  There are also so many ways to lose money in real estate.  You need to find your niche and become good at to ensure long term success. Don’t stretch yourself too thin in trying to do everything and not become good at anything.

Build Your Team – whenever you speak with someone in the real estate business, ask them for referrals of good  painters, lawyers, contractors, tax advisors, etc. When you need one, call them up and let them know that they were referred to you.

Begin Local - Great opportunities are everywhere in the Atlanta area.  Begin looking for properties that are close to your home base and avoid purchasing properties that are hours away.  I suggest to start with that you limit your areas to within a hours drive.  Every minute that you spend on the road is time away from locating new opportunities.

Start Looking Around – When it comes to this business today, just put the word out there that you buy distressed properties to people you know. Even if you aren’t prepared to purchase, start looking for deals. Team up with a realtor and search the MLS for wholesale deals, fixer-uppers, foreclosures and short sales.

Never Stop Learning – Take every opportunity to educate yourself in all aspects of real estate investing.  Read books, articles, blogs about getting started in rehabbing and wholesaling. Then visit the marketplace and contact a few investors that have been around a while.  Learn as much as you can and your education will continue to pay out dividends as you grow and mature in the business.

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