Anyone looking to cash in on the current foreclosure crisis should invest in high quality real estate coaching.

The depressed state of today’s real estate market has opened up a buyer’s market that may literally provide the opportunity of a lifetime if your looking to get started with real estate investing.

Prices are down to levels not seen in a decade or more and in many cases far lower than the replacement value of the building.

However, along with opportunity comes risk. The market is made more complicated by banks that may not have properly foreclosed, by ever-changing regulations and laws designed to protect consumers, and by scam artists.

The services of a seasoned investor, who is willing to provide real estate coaching, could be a valuable investment in your success.

It is estimated that there are over 1.5 million foreclosed homes currently on the market.

Many of these homes can be purchased for less than 50 percent of value and well under replacement value.

Some of them are in good condition and some of them need a lot of work.

How do you determine which of these properties provides the best opportunity for success?

Success takes knowledge of the market and doing your homework.

If you do your homework, you can obtain a higher return on investment from real estate (with lower risk) than just about any other investment available. Real estate values may go down but they will never be ZERO like some stock investments.

There are a few considerations that are critical to your success. They include:

• A knowledge of the local market – Before you invest in a property, become familiar with the area and the value of other properties in that marketplace. Base your valuations on what houses SOLD FOR not what they were listed for.

• An understanding of your state’s laws relative to foreclosures – Some states, for instance, have put protections in place that outline what you can and cannot do with respect to making a deal with a distressed property homeowner.

• Having cash in hand or a line of credit set up – If you plan to invest in foreclosures “cash is king” and you will usually be able to strike better and more deals if you can close quickly and make an all cash deal.

• An understanding of the meaning of “as is” – Foreclosures come without guarantees about the physical condition of the home. Make sure you have inspected the property and know roughly what the cost of repair will be, before you buy the property. Sometimes paying a little more for a house that is in better condition is a better investment.

• Always understand that time is money – If a house needs extensive repairs and that will take 6 months to complete. You will have to carry that house for 6 months before you can sell or rent it. That cost will come out of your profits.

• If you are not real estate savvy, you might want to work with someone willing to do some real estate coaching, at least to get you started. He or she will be able to explain differences between pre-foreclosure, foreclosure auctions, REO’s and short sales. They will be able to walk you through the process of title searches, finding competent contractors and more.

Smart foreclosure investment is more than just finding cheap properties.

Forecasting future value is critical to understanding the real potential of a foreclosed property.

The opportunities are available for anyone willing to put in the time.

Time is money however, and unless you are an experienced real estate investor, paying for real estate coaching will save you time, help prevent mistakes and return you fee many times over in increased profits.