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Anyone Can Succeed In Real Estate Investing, But It Isn't Easy
Some will liken real estate investing to playing a game of chance. These people think the investment game is just a matter of being in the right place at the right time and that makes them adopt either of two possible attitudes. They will either leap rashly into the game without looking first, or else they'll avoid investing completely, seeing it as nothing but a fraud.

Although a degree of skepticism is an admirable personality trait, it isn't good for a person to be so incredulous that they never even try. Robert Kiyosaki's Rich Dad series makes real estate investing appear to be incredibly easy. Too easy, in fact, if you don't see that those books are simply meant to prepare the beginning investor to learn about investing on his own on the finer points of real estate investing. The books themselves aren't a complete education, but merely an introduction.

After reading just a few of Robert Kiyosaki's books, you will understand the rudiments of real estate investment, and why everyone has the potential to become a successful real estate investor. Skeptics who are not so incredulous that they see the entire real estate investment game as a fraudlot of nonsense, will know that there's much more work to be done at this point.

The realistic skeptic (as opposed to the cynic) knows that research plays an essential part in the success or failure of an investor. One must know how to go about doing that research and what information one needs to gain from the process, and one must also put that knowledge into practice by putting in the effort to actually do the

NYC Coop Sales Price Now Public Information
It's an old axiom that, despite increasing numbers of condos, coops still account for around 80% of NYC's apartment inventory. Yet, until recently, the sales figures were shrowded in mystery. No more. A recently passed law allows access to these figures through use of the City's ACRIS system. While the link may not be up for long, you can find a pdf guide to how the system works at NYC.gov/html/dof/html/jump/acris.shtm.
Noah's Ark 2006
In the year 2006, the Lord came unto Noah, who was now living in the United States, and said, "Once again, the earth has become wicked and over-populated, and I see the end of all flesh before me. Build another Ark and save 2 of every living thing along with a Few good humans." He gave Noah the blueprints, saying, "You have 6 months to build the Ark before I will start the unending rain for 40 days and 40 nights." Six months later, the Lord looked down and...
Commercial Rent Prices Up - Square Footage Down?
A recent article in Business Week suggests that the open space model of the dot com era may, actually be a paradigm to enable businesses to reduce one of their largest expenses, namely, commercial office rent. Yet, the position of the author is hardly universally shared, eliciting a number of rejections and criticisms in the posted comments following the article. From my own experience, there is no doubt that, technologically, more and more things can be done in more and more places....
Bubble Metrics
I came across a very interesting website, that of the Center for Economic Policy Research, an organization that's done alot of looking into the housing bubble issue and that has alot of articles that you'll find interesting and informative. What's really noteworthy, though, is a unique bubble calculator that seeks to measure whether you'd be better off renting or buying by plugging in the price, mortgage terms, location and projected hold time into the fields, which then takes into...
Expected Report of Year Over Year 2nd Qtr Condo Price Declines
Today's NY Sun reports that an expected industry report on condo prices will show softening on a year over year basis for the second quarter. As the article recites, industry analysts opine on whether they foresee a repeat of the coop collapse of the late 1980's when oversupply combined with softening demand and tax reform to cause a sharp drop in prices. Some, according to the article, feel the City's overall healthy economy will prevent this recurrence in the case of...
Worried about Interest Rates? Tell that to the Rent Guidelines Board
In an unusually raucus session of the Rent Guidelines Board's annual spectacle on guidlines increases for rent stabilized apartments in NYC, the Board members could hardly hear themselves over incessant drum beats from Tenant activists, yet still managed to outrage them, while disappointing landlords in the process. Read about the meeting and the increases at <a...
Problems When the 1031 Tail Wags the Dog
Here's an interesting article about what happens when investors, in their zeal to meet the stringent time requirements of a 1031 exchange, invest in properties in areas they're unfamiliar with and do so without their usual degree of due diligence. <a href="http://www.realestatejournal.com/buysell/markettrends/20060615-hagerty.html?refresh=on" >http://www.realestatejournal.com/buysell/markettrends/20060615-hagerty.html?refresh=on</a>
Everybody into the Pool!
When it comes to Terrorism Insurance, the government's days as a reinsurer of last resort are numbered, ending in 2007 following one extension of a temporary act intended to restore confidence among the Nation's insurers and reinsurers following the huge losses suffered as a result of the 9/11 attacks. A lobbying group called the Real Estate Roundtable, <a href="http://www.rer.org/," >http://www.rer.org/,</a> recently proposed modeling a future system after that...
Taxes and Commercial Real Estate Activity in NY
Today's NY Sun has an interesting article sure to reinvigorate the timeless intellectual arm wrestling about whether booms and busts in real estate are primarily driven by tax policy or the business cycle. This article focuses on the infamous "Cuomo Tax", formally known as the Real Property Gains Tax, enacted in the '80's by then Governor Mario Cuomo. In short, the tax that excluded townhouses and one and two family houses, surcharged capital gains on most other...
Another View on the Bubble-No Bubble Coin Toss
Glenn Roberts, Jr. of Inman News today quotes from findings of the Anderson Forecast, an economic report out of UCLA. According to the report, housing is more likely to head for a crash rather than the gradually deflating balloon we've all be hearing about lately. For more, check out the article ( subscription required) at <a href="http://www.inman.com/hstory.aspx?ID=53488" >http://www.inman.com/hstory.aspx?ID=53488</a>

research.

Real estate investors should research the cities in which they are interested, learning about the economy, whether the area is attracting people in or repelling them, whether new business is entering the area or whether businesses are shutting down. These are just a few of the things an investor must know about an area in which he plans to buy property, but they are extremely important.

The true skeptic knows that though he may read that an area is doing wonderfully, that doesn't mean no further research is in order. The relevant facts must be checked and rechecked with several sources. Cities must be visited. Officials must be met with. Experts must be consulted.

A smart skeptic assumes nothing. Skeptics check things out, as do successful real estate investors. They let experts direct them to more experts. They speak with local businessmen and politicians. They get the relevant authorities to back up their statements rather than simply believing everything they hear.

The process is really about putting in the hours to get the facts you need. The wise investor isn't afraid to ask questions and lots of them – It’s a vital part your education process. A little healthy skepticism never hurt anyone.

Alex Anderson Is A Licensed Minneapolis Realtor Who Helps Minnesota Real Estate Investors To Buy And Sell Property. Download A Free Copy Of "The Investors' Rental Guide" At http://www.GreatInvestmentProperty.com