When the bank says no, there is still work to do. On this great call with Dwan, learn how to find deals, put together your packages with the banks, have the crucial conversation that will make or break your deal, how to pin down loss mitigation, how to handle the banks inspection, getting the deed, and more. Don't miss this great call!

Whether you like it or not you can’t do it all by yourself. Investing in real estate requires many different professionals. There are realtors, appraisers, inspectors, builders, remodelers, mortgage companies, banks, property managers, attorneys, partners, accountants, sign companies, printing companies and yes even mentors, buyers, sellers and tenants. I have heard in business that you are only as good as your weakest link. I want to suggest that you choose your team carefully. You may even want to go as far as interviewing your team players. After all this is a business and the dollar amounts can be substantial so you want to make sure that your team members have the same morals, ethics, business philosophy and personality as you.

I want to share with you some ideas on using real estate to become debt free and build your cash reserves. It has worked for me and I have also shared this with many other investors and it has worked for them also. Many investors start out in real estate thinking that you have to “have money to make money”. That is not the case at all. You will need one of two things though; either good credit or cash…remember that it doesn’t have to be your cash or credit as far as that’s concerned. It’s OK to start out with other investors until you can do it on your own. I would rather share the profits and have some of something rather than all of nothing.

The recession is over and spending is going up. Interest rates may even begin to rise soon. According to a recent study Americans are carrying $683 billion in revolving credit card debt. That is not how much we charge but the outstanding balance that we pay interest on each month. WOW! Cambridge Consumer Credit Index stated recently that of all those people who paid less than the entire balance all but 13% made the minimum payment. Using a credit card on a regular basis is nothing more than habit. If you want to change your results just change your habit. You can even go so far as to leave your credit cards at home. Yes, I know it’s tough but if you don’t have them with you, you can’t use them can you? Here are 8 steps that will help you get out from under the burdens of debt. If you have young adult or teenage children I would suggest that you pass this along to them also:

Laws vary from state to state, but when you add up the costs and time down of an eviction, the results are the same. Evictions are expensive to all landlords everywhere. Preventative medicine (tenant screening) is the best way to reduce evictions. Thorough screening including credit checks, criminal checks and eviction reports can greatly reduce the likelihood of an eviction by identifying risky traits and characteristics in the prospect. Sometimes, landlords may take all the steps necessary to screen a tenant and still be forced to evict the tenant. This could be anything from rules violations to refusal to pay rent.

The costs of repairing and replacing appliances in your rental property can be significant if preventative maintenance practices are not employed. Protecting appliances are an integral part of good property management. A landlord runs the risk of losing significant profits by having to call an appliance technician regularly for repair.

Reducing resident turnover for your property requires a combination of different factors that begin with the basic rules of good customer service. Landlords must cultivate within themselves and their staff a set of behaviors carried out during communication with residents that demonstrate their appreciation. Landlords must consistently exceed their residents' expectations day in and day out. Residents need to notice that the staff is committed to:

Landlords understand that the longer their rental property stays vacant, the more profit they will lose on the investment. Keep in mind though that recruiting new renters isn't the only requirement for making a smart leasing decision. Be sure to adequately review a prospective renter's credit history and criminal background before you hand them the keys to your property - or you might find yourself back in the market for another renter much sooner than you expected!