To Become a Real Estate Millionaire, you have to Study your local real estate market. After that, evaluate the business cycles, interest rates, cataclysmic events, inflation as well as flow of funds in the cities that interest you. Then, Look through the classified ads in your local newspaper. Next, analyze each property thoroughly. Forth, Consider the income potential of the home.
After that, select to keep the property, rent it out to tenants or flip the property to buy and sell it immediately. To create real estate wealth, you need to know when to apply the right strategy to maximize cash profits. Last, purchase foreclosures, pre-foreclosures, HUD and VA properties, short sales as well as REOs to profit from real estate deals.