'When investing in real estate the first question to ask yourself is 'Do I want to get dirty?''says Andrew Waite, publisher of Personal Real Estate Investor Magazine. If you have either building skills or a knack for managing contractors, you could pick up a cheap fixer-upper, rehab it and sell it or rent it out. Just remember, this do-it-yourself approach requires capital, sweat and long hours. Treat it like a part-time job.