Investing in real estate can be a very lucrative way to make a living. An education is needed to learn the business. There are many different laws, procedures, and different types of investing you can do. There many different local groups of investors that meet weekly to learn about investing, and help each other. There are also national, well known, gurus who put on seminars and have study courses and other training resources to help you get started. Some of the different types of properties are:

Realtor listings: these are home listed for sale by licensed real estates agents who represent the seller of the home.
FSBO, For Sale by Owner: these are homes that are put up for sale by the owners themselves, without the assistance of a real estate agent.
Bank Owned: these are properties that are owned by the bank, because of the foreclosure process, these homes are usually available at deep discounts because banks don't want to own houses, they want to lend you money to buy. Many bank owned properties are in need of repair, the homeowner was not able to afford to keep the home, so they probably weren't able to keep up on maintenance, or repairs.

Auctions: Are homes that are open to be view for a limited time and then sold to the highest bidder on a particular date.
Tax sales are similar to foreclosures or bank owned, except they are now owned by the city, because the taxes were not paid.
There are traditional ways to buy homes for investing such as paying cash, or getting a mortgage. However, there can be many creative ways to buy. Like subject to: which is where you take over the monthly payments of the existing homeowner.
Lease with option: a process where you pay a monthly rental payment for a certain amount of time and then you purchase the property. Rent to own is basically the same procedure as lease option.

Any way you slice it, investing in real estate is a very low risk and profitable business, as long as you learn how.

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