Stretch daily, and run 1-3 miles, 2-3 days a week.
This will get your flexability up and get your stamina up.
And be sure to practice your katas outside of class.
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First of all you need a uniform (gi) and belt (obi). Now find a place to practice karate. But most importantly you will require a good instructor.
While it varies from school to school, most have very basic requirements. In the style I study, all that is required is enough floor space to move in, nothing else is needed.