Real estate is hot right now, and many people are eager to get into the game. They think that they’ve got what it takes and can hit the ground running, but for starters, they may not be aware of what it takes to break into this business. I recently read an article by Eugene Bernshtam in which he advises on how to successfully transition from a non-real estate career into a real estate developer. I found his advice very helpful and thought that it might serve useful for someone just starting.

1. Don’t have unrealistic goals when you first get started

Many people try to accomplish too much in too short of a time period when they first enter the real estate industry. It is important to take a slow and steady approach to set attainable goals for yourself and go from there. As long as your goals are realistic, this is a good way to build up the experience, capital, and contacts you need to start your career.

2. Do not jump into real estate investing blindly or without consulting an investment specialist first

There are many different ways to invest in real estate, but there is no sure-fire formula for success. Every project will be unique in some way, so it is important to consult with a real estate specialist before taking the plunge. This will help you avoid wasting time on ideas that are not likely to succeed.

3. Purchase an apartment building or commercial property directly from the seller

This is very different than purchasing a home for yourself to live in, which you are probably more familiar with. Real estate investors purchase property in bulk and then rent it out to make a profit. It is important to purchase the property directly from the seller because this allows you to bypass the broker’s fee associated with a sale. In addition, you can save yourself some money by going around an agent, which you will have more of when you have a bigger budget.

4. Keep a close eye on the market and make sure you don’t overpay for your purchase

It is important to keep your eyes open for good deals when looking to purchase real estate, particularly if you want to get into the industry on a modest budget. Keeping track of the market might be difficult at first due to the newness of your venture, but it will get easier over time. The more familiar you are with what properties are selling for and how much they should cost, the more money you can save.

5. Have a good real estate attorney to help you out

It is important to make sure that your interests are protected when investing in real estate. This means having a good attorney to help you with the details and documentation of your purchase so that all of the i’s are dotted and t’s crossed. You can find attorneys by asking other investors for referrals or consulting online directories such as http://www.lawyers.com.