If you are investing in real estate either as a rental or as a fast turn over or long term holding, always be sure you can cover the mortgage or payment should you be without a renter for up to three months. Without this extra fall back cash your quick profit can turn into a foreclosure of your own.
When working to find real estate investment options look at neighborhoods that have a high turn over of families or properties. Consider sending letters to some of the properties that you would like to buy and ask them to contact you if they are interested in selling their property. Keep the letters professional and clearly indicate that you are wanting to buy the house to avoid confusion or misunderstanding.
Avoid buying houses that are out of place with the neighborhood as an investment property. These odd houses, either much larger, much smaller, overbuilt or over upgraded for the style of the house are very hard to sell as they are so different than the rest of the community.
