In real estate investing time truly is money.
Marketing a property can be time consuming, and with each passing day, the property becomes more of a burden to the investor that is trying to sell the property.
The reasons for this are mostly psychological, each day the investor watches as new properties enter the market, properties that he or she doesn't have the time or the energy to work on simply because of their already full inventory.
The key with real estate is to get in and out as quickly as possible.
Most seasoned investors can tell within days whether a property is viable or not.
If the investor is unable to sell it right away, often times they'll simply abandon it and walk away.
While this may seem a waste of time, there is no reason to "send good money after bad".
A property that does not generate interest immediately should be left a junior investor.
Experienced investors want to work the hottest properties aggressively, why waste time on a "dog" when the next one may generate a quick profit.
As your investing career progresses, you too will develop a "feel" for a property.
You'll experience the rush of working a new property and you'll know when the interest on it has cooled down.
The key to prospering in these situations is how you structure your deal with the seller.
Your goal should always be to structure the deal so that you can walk away if the property doesn't sell.
The biggest mistake a novice can make is to negotiate a deal that will cost too much money up front.
Zero or very little money down is the best way to manage your properties.