Of all the questions I get when I speak to people about getting started in real estate investing ?where do I start,? is the one asked most often. After getting this question about a thousand times ? I have learned to say (because it is the answer to the question we all need to hear) ? Where do you want to be? I am not trying to get out of the question, I just am not sure people have put enough into the question.



Your goals and understanding what you want, as in any investing, are the foundation of your actions going forward. If you have none ? then, as they say, ?any road will get you there.? But this is not a discussion about goals; it is a discussion about getting started in real estate investing. If you want to be an investor, you, in my opinion have picked the best time in 50 years to do so. Why? Three key issues:

-The market has panicked, and has over corrected in many places. Given, the market was too high, but it has corrected to a point where I have seen 75% adjustments

-A lack of liquidity. Many investors, institutions and non-investors are strapped, with assets devaluing across many investment vehicles

-Lack of broad base of qualified buyers. The market, in its reaction to the sub-prime lending crisis has re-adjusted credit criteria, making loans only to those that have solid credit and solid assets.

Now comes the hard part, how do you get started? Well, it's not as hard as you think ? the first step -- get educated. No, I don't mean go out and spend $5000 on some overpriced, under delivering seminar. Getting started is as easy as picking up you local paper, rental magazines, home selling magazines and getting on the internet. Step two ? pick a market area that you are familiar with, or want to become familiar, and become an expert in that area.

There is an old technique, that when I heard of, it made sense, and I found it to be very practical for new investors. Pick two points on a map, and become the expert on every real estate transaction between those two points. Sounds easy right? Well, it can be once you have systematized it, but it takes persistence and vigilance to monitor your market, a thing many investors just don't have. Understanding your market and what makes deal a deal is the first step you should take in your market education.

In parallel, your personal education is an absolute. Even if all you want is one little rental home, getting educated about the managerial, financial, legal and marketing aspects of that property can make the difference between it being a profitable investment, or one that you are dying to get rid of. By the way, I am always in the market for properties being sold by don't wanters ? people who have not taken the time to get educated. Many of my investor friends will tell you to just get started, and although I agree with them to a point, I see too many people who have too much fear, that a little education can help them overcome.

There are so many cheap or free resources out there to help you gain the basics of investing, that you have no more excuses to not take that first step.

Jules Carney is a veteran real estate investor, buying and selling several properties a year. A virtual Investor, He currently is starting his real estate blog ? Real Estate On Training Wheels at RealEstateOnTrainingWheels.com