So you've always wanted to become a property millionaire but never quite knew how to get started?

The good news is that making large sums of money in real estate is relatively easy if you follow the proven path that those who have already done it have laid out for you.

In this article we share the top 3 tips that every property millionaire has implemented. It's your guide to shortcutting the process and making it big in property FAST!

Tip # 1: Real Estate Investing Is A Team Game...Don't Try And Do It Alone!

If you want to make serious money in property then you're going to need to become a master networker and attract a "dream team" of contacts and advisors.

Just some of the people you're going to need to know include: real estate agents and buyers agents (in your target area); local town planners (particularly if you're planning on subdividing or building); accountant (who can structure your purchases to minimize tax and protect your building wealth from frivolous lawsuits); mortgage broker or banker (who knows you and has given you in principal pre-approval to buy your specified type of property); valuer or appraiser; building inspector; attorney, lawyer or conveyance specialist; insurance agent; property managers and cleaners/gardeners. If you're going to subdivide or build, then you can add to this list surveyors; technical engineers; architects and tradesmen.

A tip to help you develop your network quickly is to have a business card that tells the world that you're a property investor/developer. A professional business card will tell your contacts that you're a serious player and ensure that you get the special attention you need to succeed in a competitive game.

Tip # 2: Find A Mentor...Someone Who Has Made Money Following Your Chosen Real Estate Investing Strategy

There are countless ways to make money in real estate - including the most simple buy and hold strategies and simple renovations to land subdivisions and building units, townhouses, homes and apartments (to name just a few).

To be successful as a property investor you need to find like-minded people who have successfully made money following the strategy that you would like to implement...aim as simple or as complex as you like as the learning curve will be steep either way. The key is to stretch yourself but not so far that you feel undue stress and strain.

In addition to teaching you the mechanics or "how toos" about investing in real estate, your mentor should help you work on your mindset to ensure that you don't let limiting beliefs and incorrect knowledge hold you back from the success you desire and deserve.

Afterall how many people do you know that believe myths such as "you cant make money without money" or "real estate investing is only for the wealthy" or "you need experience" or "it's too risky" or "you need insider information" or "you need to know the right people" and the list goes on. There is definitely truth to each and every one of these common myths - however if you get accurate knowledge about the strategy that you're pursuing and take massive action towards implementing your chosen strategy then all of these myths can be busted in time. You will discover that you learn by doing (and making mistakes) and that as you get experience, other people may start to offer you money to invest on their behalf (meaning you don't need to use your money to make money afterall!). And most importantly, your risk in real estate investing is directly proportional to your knowledge...that's why starting by following the proven system of a mentor who has walked the path you wish to walk is a great way to safely get started in real estate.

Tip #3: Don't Buy Emotionally - Have A Plan And Stick To It

It may sound obvious but the key to success in real estate is to do your homework, have a plan and to ensure that you've crunched the numbers and that you know your plans are profitable.

You would be surprised at home many people buy property without doing anything close to proper due diligence (let alone having any sort of profitable exit strategy!).

The first step is to research the market that you're working in to ensure that you're familiar with sales prices in the region. If you're going to renovate or subdivide land, you're doing to need to know what price you're likely to attract when you on-sell your property after you've added value to it. You should have a minimum profit target and calculate your property purchase prices based upon this profit level. If you cant buy your initial property at a fair price to allow you generate a reasonable return, then walk away!

Never assume anything. Never assume that the agent is telling you the correct information and never trust any sales evidence that is quoted to you that you haven't independently verified (you'd be surprised at how often agents tell you want you want to hear rather than the reality of the situation)!

When you're unable to assess any part of your property deal - call in an expert - rather than guessing (and possibly eroding your profits in the process).

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