Beginners sure do appreciate real estate tips, especially when they come from experts. However, getting doubtful tips, especially when surfing the Internet, is always possible. Some beginners are gullible enough to believe these pieces of advice but of course they cannot be blamed. For the benefit of neophytes who really want to succeed in the industry and want real pointers, here are some useless tips you must simply ignore.

Real estate is a water well that dries up during a recession. If someone told you this, dont believe that person. Investors who made millions over the past few years when the country and the world in general experienced an economic slump from this industry will prove this tip wrong. Truth is, if real estate were a well, you can still drown in it during an economic slowdown. The important thing is you know where the money is in any economic condition. In times of an economic crisis, for example, dont expect to sell huge mansions to local buyers.

You can be successful in real estate investing overnight literally and figuratively. Many gurus include this statement in their real estate tips. Thats just understandable as these people are information marketers. They make money from the information they sell. Perhaps it happened to them but the chance of this happening again is probably 1 in a million. The truth is you need real estate coaching or at least self education, a lot of hard work, and the drive to make it big in this industry. Real estate is not the lottery.

You need capital enough to buy at least one house. Of the many real estate tips out there, this is perhaps the most believable. It also makes sense because the usual logic is that you need to have a house before you can turn it into an investment, whether thats selling it using it for rentals, among others. However, you must also know that there are investment methods that do not require this much capital. Wholesaling houses is a good example of such investing method.

In this business, you will only place a property under a contract to buy it. An end-buyer whom you must find before the contract expires will actually need the huge money because he will purchase the property. You get an assignment fee for doing this.

There are various sources, some of whom offer real estate coaching, who may not actually be experts with what they preach. So be very discriminating in accepting tips. For more credible information on real estate, go to REIWired.com and search its article and video contents.