Lets discuss how you can make money and learn about Real Estate Investing. One of the best things that you could do is go out and find a mentor, somebody that you can work for in exchange for finding them deals. A combination of bird dogging. You bird dog for them you bring them deals they will teach you some ropes and you get a bunch of experience.
Learn to Manage Your Credit.
I have always said, “you don’t need good credit to get into Real Estate Investing”. But if you don’t have good credit, you are limiting your options. Without good credit you are limited to Nothing Down techniques such as Referrals, Assignments and Lease Options or you always have to use Investors or Partners which cuts into your profits. Just like education where The More You Learn, The More You Earn, the “better your credit rating the more you can earn”.
Start with low risk.
There are many Real Estate Investment strategies you can use. Some can be risky and some have a lot less risk. Some take more time and others take very little time. If you are just starting out and don’t really know a lot about Real Estate Investing, I would recommend you start with some referrals and assignments. These have very little risk and it gets you involved in the process.
Make Money While You learn
There are a lot of courses that try and teach you how to become a Real Estate Investor with just one course. Some are classroom-based and some are self-study. I even took one course that was distance learning. Some companies “sell” you one course and then try and sell you a bunch of other courses before you need them. My approach is that you need enough education to get started.
There are several different ways to learn about Real Estate Investing. Here are a few.
Books & CDs
The easiest way to start learning about Real Estate Investing is by reading books. Books are inexpensive and can give you a broad range of what Real Estate Investing really is.
You Are Always Selling
Whether you like it or not, we are all in sales. We start at an early age trying to “sell” our ideas and our wants. You are always trying to convince people to do the things that you want done. Sales is everywhere in Real Estate Investing. Whenever you are dealing with people and you are trying to convince them to do something for you, you are “selling”. I’m not just talking about trying to get someone to buy something from you for money.
5 Books That All Real Estate Investors Need to Read
As a base you need to read the ones I am about to tell you. Most people think that Real Estate is about buying a house, fixing it up, selling it or making offers. Sure that is the mechanics of it. However, a lot of people never get to that point. I remember taking this real estate investing course and the instructor said “95% of you will never be involved in Real Estate Investing” A Lot of people go with the hopes of being Real Estate Investor, wanting to change their life but they never have courage or discipline to take it anywhere further.
When Should I Use a Realtor
Tonight I want to talk a bit about using a Realtor whether you should use a Realtor and when you should use a Realtor. Personally I will always use a Realtor! I tried selling my properties before and it’s just not something I want to do and for you as a beginner or as season investor I always recommend using a Realtor.
So let’s talk about that the two times when you do need a realtor first of all when you’re buying a property and secondly when you’re selling a property. Of course this is only true for transactions where it actually requires you to transfer and requires a legal listing and where a Realtor really is involved.
Why Is Real Estate Better Than the Stocks?
With the recent economical situation and the big losses in the stock market, people are starting to look for alternatives for their investments.
Most people I know have all of their investments in “diversified” mutual funds. The big problem is that their diversification was still within one vehicle, the stock market.
The other problem is that they really don’t have control over their investments. Real Estate Investing should be considered as part of your larger portfolio.
One of the nice things about owning Real Estate as an investment is that you have more control.
Make Deals as You Learn
When you start your Real Estate Investing career, you will need to get educated.
One of the best ways to get educated is by attending seminars.
When you attend seminars, maybe you will meet someone who has a deal for you?
There are many types of people that attend Real Estate Investing seminars.
Some of the people at these seminars are new to Real Estate Investing and are looking for as much information as they can get. Some are experienced Real Estate Investors looking for some new ideas or new opportunities. There are people with money looking to invest in Real Estate. There are Mortgage Brokers, Realtors, Property Inspectors, Tradespeople, etc.