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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.
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.
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 whot 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.
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