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So you wanna be an investor

More and more houses are going into foreclosure or are listed at low prices so sellers can prevent foreclosure. This recent change in the market has prompted a lot of people to consider becoming a real estate investor. For the new investors, there's a lot that must be considered. It's not just simply telling your Realtor, "Go get me the best deal out there."

Here are some things to ask yourself. Once you've determined the answers to these questions, tell them to your Realtor. This information will help them tremendously while they help you reach your investment goals.

1. Why are you investing?

2. What's the level of risk you can tolerate?

3. What rate of return do you want?

4. Do you have a property manager?

5. Are you working alone?

6. Who's making the decisions?

7. Do you own other properties?

8. Are you a full or part time investor?

9. What are you looking to expand on in your portfolio?

10. What have been your good investment experiences and bad investment experience.

11. What are your expectations of your Realtor?

12. If something is found today that fits your criteria, will you write an offer today?