We hear it all the time by the midnight "gurus of real estate". Buy their program, book, CD, etc and you can quit your job and relax in the Caribbean islands. There are programs related to flipping/rehabbing, foreclosures, no-money down, and on and on. While I am by no means against people learning about real estate investing, but actually espouse it, I do have a problem with these "gurus" charging a large amount of money for a program that they KNOW will only be used by less than 10% of the purchasers.

Before you spend money on any book, program, etc, you need to first research the source. 1) Has this "guru" really successfully invested in real estate anywhere?

2) What are you getting for the money you spend? Phone Support? Email Support? Mentoring? Any support?

3) Is there a money back guarantee with few exclusions, or is it a guarantee excluding most reasons?

4) Do you know what you want to get from the program? This is actually the most important point, and doesn't really have anything to do with the "guru" per se.

I say point 4 is the most important because if you don't have a plan for your investing business, no program will make you successful. This is applicable for real estate investing, starting a small business, or any investing you will do. If you don't have a destination, you cannot make smart decisions on how to get there. You should do this right now for all aspects of your life. Investing, personal, and relationship goals are just a few.

So, sit down now and decide what you want to get out of investing in real estate. Replace your current income from cash flow? Additional income for other investments, kid's college, or vacations? Increase your assets while minimizing taxes? Preparation for retirement and other reasons?

Once you decide on why to do it, then you can determine what your goals need to be from a financial perspective e.g. add $2,500 per month in cash flow or $10,000 per year in cash profits.

Once you know your financial goal, then you can decide how to achieve it, because your goal will help you decide on the path to take. If you want cash flow, you'll probably want to invest in apartment style properties up and running with a good cap rate. If it is building cash in the bank, you may want to do rehabs or foreclosures. You may also decide to do a combination of approaches.

Now, you can begin your research. Go to your library, and read the books available on real estate investing. Call several real estate agents that appear to be involved in investment real estate rather than personal properties. (This is important, because most residential agents do not understand the investment property field.) Make sure to look for agents that work for commercial property companies as well. Go to a book store. Most of the bigger chains allow you to read the books in the store. Once you have done your homework, then you can make an informed decision on whether or not to buy the program.

If the things I've suggested here seem like too much work, then don't buy a program, don't invest in real estate, but just give your money to a money manager. Because regardless of what you hear, real estate or any kind of investing requires effort, mostly mental, on your part for you to be successful.

I hope that this helps you with your decision to purchase or not purchase a program, and keeps you from having buyer's remorse. Remember that money is not evil. It is the Love and coveting of money that is evil. Regardless of your current means, situation in life, etc, you should live your life with a feeling of gratitude for what you have been given. Even if the only thing you can think of is that you are alive, you need to thank God (a higher power) for that. Only then will you truly enjoy life, and isn't that what it is all about.