You can enroll yourself in a university that offers on how real estate business works in order to learn and be armed as you enter this business. Reading books about real estate can help you out too.

As a first timer, do not rush things out, you must be careful and decided with every move you make. you must keep on learning in order for you to easily cope up with new things.

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As a first timer, never rush things out, you have to think deeply and consider all the vital factors in order not to go wrong.

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I would suggest that you go to the book store and purchase several books on buying, flipping and selling as well as other books on how to purchase distressed property.

First of all you have to determine what type of real estate investor you want to be.

#1 Flipping residential properties for profite

#2 Selling retail to other investors (sort of like a finder, but you make the deal with the owner and then without doing any fix-up or repair sell your interest to someone that want to do the fix-up or repair)

#3 Buying mortgage discount notes

#4 Investing in mortgages

#5 Flipping commercial properties for profit

So until you have decided in which real estate investment you want to engage in there is no advice anyone can give you.

What I suggest is go to your nearest book store and purchase books on the various subjects, see which interest you the most, experiment with a few of the ideas in your book and after awhile decide on which one you like the best.

You might decide to do a little of a few, but what ever you do make yourself an expert in one. Don't dabble in 3 or 4 become and expert in one. Make yourself such an expert that you can fall out of bed and know what you are gonna do and how to do it even if you are asleep.

The reason a lot of people fail in the real estate investment field is because they try to become an expert in 5 different things and can't keep up with current trends and continuing education in the field they really want to do, or become an expert in.

What ever you decide to become an expert in, attend any seminars or classes you can in the field you have selected so you can keep abreast of the current trends and techniques.
There is nothing like using old fashion techniques in your business, when they have changed.

I hope this has been of some use to you, good luck.

You got it right! First things first, you don't wanna go to war without without. Same goes in real estate business. Preparation is always a must.