How To Make Your Own
Real Estate Investing Course
If you have ever ordered a real estate investing course off
of a late night infomercial, it was hopefully just what you needed.
But more often, there is a lot of information there that just
doesn't help in your particular situation or market. It's not
that the information is necessarily bad, but we all are different,
and not all ways of making money in real estate suit each investor.
The good news is that there are many different ways to make
money in real estate, and some methods will work better than
others - for you. You might not want to option commercial property,
or lease-option mobile homes, for example, and you're likely
to succeed doing those things if you have no real interest in
them. On the other hand, some ways to make a profit might be
much more inspiring to you. So maybe it is time to design your
own real estate investing course.
Your Own Real Estate Course
You need to do is discover what kinds of real estate investing
are best suited to your personality - and perhaps your market.
Spend an afternoon in the local bookstore to get some ideas.
Good ones have at least fifty books (with fifteen different ways)
to make money with real estate. Read, take notes, buy one or
two of the better books, and see what types of investing appeal
to you and seem most likely to succeed in your area. Here are
just three examples:
Fixer Uppers
These can yield a quick profit. You can also be very creative
in this type of investing. On the other hand, are you ready for
the risk and uncertainty? I have a friend who did very well with
fixer uppers, but he always had several unexpected surprises
on each project. There is a lot of ongoing decision-making in
this kind of investing.
Rental Homes
This can be a safe way to get started, especially if you do
your homework and buy only when there is immediate cash flow.
On the other hand, being a landlord isn't much fun, and you may
have to wait a long time for the big pay-off. Do you like dealing
with tenants?
Flipping Real Estate
Make a low offer that is assignable. Then find an investor
who actually wants to buy the property, and sell the contract
for say $8,000. A way to make money with no cash to start, and
it is also great for those who like in-and-out projects more
than ongoing management. The downside? You'll spend a lot of
time making rejected offers and annoying people.
Note: Of course if you are interested in this kind of investing,
head over to the homepage and sign up for the free Fix
and Flip Real Estate Investing Course (you can click
on that link to get there) for some great House
Flipping Tips.
Obviously each type of real estate investing in the above
examples is suited to a investors with different personalities
and resources, as well as to different markets. But look at a
dozen more ways to invest in real estate to get a better idea
of which ways are best for you and your situation.
Your Course Of Study
When you decide on the type or types of investing that suit
you best, start designing your own real estate investing course.
On a piece of paper make three columns, labeled "books,"
"people" and "other resources." Then make
an education plan that involves all three.
In the first column list the books that are most directly
relevant to the type of investing you've chosen. Check for these
online, at the bookstore, or in the library. make a point to
buy at least one per month until you have a good grasp of the
knowledge necessary.
In the "people" column list people who can help
teach you something. That might include investors who have experience
in the area you are interested in - find these at a local real
estate club or landlords group. You might include real estate
agents too - browse advertisements to see which ones sell a lot
of the types of properties you'll be investing in.
In
the "other resources" column put some notes about seminars,
tapes, internet real estate investing forums, and anything else
that can be part of your education.
Be sure to set some goals based on your notes. For example,
have completion dates for reading the books on the list, and
set appointments to go to club meetings or meet with real estate
agents. Take these simple steps and you have created a real estate
investing course that takes you from here to your first (or next)
investment.
Copyright Steve Gillman. For a Free Real Estate Investing
Course, visit: http://www.HousesUnderFiftyThousand.com
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