Skip the Quick Flip - The wealthy do not labor for money: You need a fresh mindset if you're going to succeed.

First of all, you don't need a college degree or a real estate license. Many people believe you have to pass tests and get a license if you want to be an agent or broker. That's not true. In fact, getting your real estate license may actually limit your ability to make better deals. When you are licensed, you are held to certain standards that may impede your investment success.

Another major myth is about debt. Debt is a tool that can be used for good or bad. Some people think all debt is b...