There are as many reasons to seek a 1031 Tax Deferred Exchange as there are investors, but the fact is that completing such a property exchange can save you a significant amount of capital gains tax when you decide to sell your existing investment property and to acquire another one. Although you should always check with your tax advisor and attorney before you proceed, here are five basic steps to successfully exchanging a property under the 1031 guidelines.

When you're just starting out as a real estate investor, you'll want to look for ugly houses that are in need of mostly cosmetic work to turn them from doghouses to dollhouses. You'll be looking for entry-level houses that only need some TLC, including clean-up, interior and exterior paint, and perhaps some new carpet.

It's been said many times before, but only because it's always been true: If you want to be a successful real estate investor, the best way to begin is by finding a "fixer-upper" house being offered for sale by a seller who really wants to get rid of the property.

Although many FSBO home sellers have saved thousands of dollars in commissions, many others have lost money, and statistics show that 80% of FSBOs will eventually list their homes after unsuccessfully trying to sell their homes themselves. However, if you're thinking of trying to sell your home without the aid of a real estate agent, here are a few tips for getting the most from the experience:

You may be shocked at some of these tips because this information runs contrary to what other so called experts tell you. Qualifying for a real estate purchase requires different credit than automobile financing or retail credit.

Last year, during the hot seller's market, The National Association of Realtors found that staged homes sold in 13.9 days as opposed to 31 for non-staged homes. Imagine what the effect will be during a buyer's market.

Home stagers' high fees may be worth the investment. However, if you don't have the extra cash, there are simple was to get the staged home advantage without spending a lot of money.

Real estate investors have made money by buying unloved houses, fixing them up, and then selling them for years. It's not a new real estate investing method. But what if you live in an area where homes sit on the market and sell at less than full price? Can you still make money fixing houses under such market conditions?