Absolutely critical is making lots of offers - if you ain’t makin’ offers, you ain’t makin’ money.
Last, but not least, if you go to lower income areas, and look for properties with cosmetic distress, there is little competition for them, so you can buy them at favorable terms (no money down, owner finance). Then, you can force the value up thru improvements, and either flip them, or rent them for positive cash flow.
Dare I suggest you might get some training to do this?
Stu Silver, CCIM
Lead Trainer at Russ Whitney’s Millionaire U
I suggest you get Jack Reed’s book “How to Buy Real Estate for at Least 20% Below Market Value.” His website is johntreed.com.
If you are a beginner, he also has a special report to help you.
By the way, Stu Silver has listed some ways. But I would not recommend that you start with some of them. They are tricky, risky, and usually require a lot of cash–foreclosures, especially. Wait until you have two or three, or four, years under your belt as an investor before you go for those approaches.