The surge in the foreclosure rate has reached epidemic proportions for homeowners who are struggling to make their mortgage payments. The U. S. housing market has not experienced a downturn of this magnitude since the Great Depression. According to RealtyTrac, a real estate data firm, U. S. home foreclosure filings rose 4 percent in April 2008, from March 2008, and are an astronomical 65 percent higher than a year ago. That represents 1 foreclosure filing for every 519 U. S. households.

As bleak as the housing market appears, the astute investor has an opportunity to make a fortune by purchasing foreclosure property. The astute investor is one who possesses the knowledge of how the process works, has a well thought out plan of action, and is motivated to act without hesitation when the right opportunity presents itself. Education is the key to you becoming an astute investor and is critical to your success.

If you are a first time investor, do not fall prey to the late night infomercials. Their promise to make you an overnight success in real estate investing is dubious at best. Most of those programs are recycled ideas that may have worked in the past, but rarely work today. If you do succumb to the lure of fathomless fortunes, earnestly work the program. Do not get discouraged if it does not work like advertised. Glean the ideas and methods and build upon them. Remember, education is the key.

There are many books available that cover a wide range of topics, such as: real estate foreclosures, broker price opinion kits, ultimate guides to real estate and many more. These books provide the aspiring investor with valuable information and help to de-mystify the process. Books are the foundation on which everything else is built. The astute investor has a solid foundation.

Consider your local college or university. They have numerous evening classes designed around working adults to help you gain valuable investment knowledge.

Another great source of information is your local real estate agent. It pays to develop a working relationship with one of your local Realtors®. Once they understand what you are looking for, they can help you find it. They have a wealth of information at their fingertips and can help you find the right property to invest in. A good Realtor® is invaluable to your success and can save you thousands of dollars.

Before you set out to make your fortune in real estate, make sure you are an astute investor. Your efforts will pay huge dividends.

Source: http://www.dougdigs.com/realestate

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