1. Goal setting is vital in real estate investing. Recognizing and creating a budget will tell you how big a property you can invest in,  whether to invest in commercial or residential properties, and your rate of return which should outperform your current yield.
2. Finding a property in a good location will help to achieve a better price when sold but usually will cost more in price when you purchase it. Stable neighborhoods have less room for negotiation because the demand is there. Buying on the outskirts of a stable neighborhood or a gentrifying area is usually a smart plan for 5- 10 years later.
3. Make sure to research thoroughly the property you intend on purchasing to determine if it is a good investment. Hire a real estate agent to run accurate comparables to make sure you are investing wisely. Make sure you compare apples to apples. A three bedroom is not the same as a 4 bedroom. And a 2 bedroom 1.5 bathroom is not the same as a 2bedroom 1 bathroom.
4. Searching for foreclosure properties that are bank owned or REO (real estate owned) will often save you money. Foreclosure properties a lot cheaper but be aware that you will usually be responsible for all transfer fees, getting your own use and occupancy and resolving all violations and zoning discrepancies yourself. That is called buying the property in its current AS-IS condition.
5. There is always room for negotiations in real estate. The key to negotiations is win-win solutions where both party feels as if they are benefiting from the transaction.
6. Avoiding the use of a middleman or an agent can usually help you save money whether purchasing or selling. But in the situation where you lack real estate knowledge, your ignorance will cost you an expensive experience. If you are not familiar with contract law, it is recommended that you use a good real estate agent, lawyer, or Title Company because they will prevent costly future headaches.

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