The concept of buying and selling real estate properties, or flipping, is indisputably one of the surest means for the accumulation of wealth. Although the strategy involving flipping is itself short term in nature, it is not a get-rich-quick idea. Garnering a sizable real estate portfolio is a process that can take anywhere from a few years to many years. Currently I’m focusing on building my cash reserve using wholesaling. After which, I’ll focus on buy and holding to accumulate wealth.

The patient and diligent investor who applies a well-defined and systematic approach over time will enjoy a high probability of earning above-average returns for his or her efforts. As a real estate investor

In order to be a successful real estate investor, you need to assemble a winning team of professionals. One of the most important relationships you will have will be with your real estate agents. Top-producing real estate agents are vital elements of your winning team of professionals. You should plan to include as many of them as possible on your team. If an agent knows you are a serious buyer, he or she will work to bring you the types of deals you are most interested in. As the investor, you must establish predetermined criteria that meet your investment objectives. The better your sales agents understand exactly what you are looking for, the better they will be able to meet your investment needs.

If you limit yourself to just one agent, then you have only one set of eyes and ears on the lookout for good deals to bring to you. On the other hand, if you enlist the aid of several real estate agents, you will increase the number of potential investment opportunities that you can take advantage of.

I’m a big believer in the power of positive thinking. It is an absolutely integral part of becoming successful in anything that you do. But while negative thinking can stop you from reaching your goals, positive thinking alone won’t get you there. You must do the work.

Someone once wrote, “The world is sown with good; but unless I turn my glad thoughts into practical living and till my own field, I cannot reap a kernel of the good.” You need to till your field, and you need to do it with a great attitude. When positive thinking is combined with hard work, you are virtually unstoppable.

I know everyone has heard all of this talk about investors making thousands and thousands of dollars on short sales. Well I can stand here today and tell you, from my own experiences, that it’s true. Just from the last 30 days, we have been able to amass over $10,000 in profits from two short sale deals.

Marketing for short sale leads and negotiating short sales are beyond the scope of this post. But I will give you a few resources that I’m sure you will find beneficial in your efforts to find leads and get them negotiated. My preferred method of generating leads is marketing to homeowners who are 60 days late on their mortgage. You can obtain this list from a reputable company named Yellow Letter. They sell Pre-NOD leads to investors and can also mail out letters to these individuals for you for a fee.

As for short sale negotiations, I would recommend using First Choice Loss Mitigation. They negotiate

A key element to being successful in the real estate business is having the ability to fund your deals once you have secured them with a purchase agreement. If you find tons of deals but have no way to fund and close them you are never going to take advantage of your opportunities. You would be like a fisherman without a pole. A golfer without any clubs.

There are many ways to fund real estate deals. You can either buy real estate to hold long term in your portfolio or you can quick-turn houses for fast profits. Whatever you choose to do you are going to have to fund these deals to start the money making process.