Newbie. Reading alot. Trying to tie it all together. Have previewed both Financial Health Coach and John Long (Long Acquisitions, Wilmington, NC) programs. Both very expensive but seem to be solid programs.
Feedback re: these or other programs appreciated. Just don’t want to spend the $$ if the return is not justified.
There is no “SECRET” to real estate investing. I don’t know anything about the bootcamp/seminar you are thinking about, but what do you expect to get from it? Instead of paying big bucks for bootcamps/seminars, I would suggest joining your local REIA and making friends with some of the SUCCESSFUL investors there. Also, target your reading and studying to whatever area you’re planning to focus on: i.e. wholesaling, rehabbing, landlording, etc. Also, if you have specific questions, ask them here!
Most of the seminar gurus are more expert at separating newbies from their money (with the promise of a “secret” that doesn’t exist) than actually operating a successful real estate business.
It doesn’t cost thousands of dollars to learn this business.
The real estate business is one of the purest forms investing out there.
THE SECRET IS… Buy houses for SUBSTANTIALLY less than they’re worth.
I know that sounds simple but it really is the whole show. Mike’s right, get out there and talk to people. FORGET the bootcamps. It’s a joke.
What you need to focus on is ONE THING. How can I get people who need/want to sell their homes for big discounts to call me?
Be creative. I had a friend of mine who bought used cars for his dealership. He rode around EVERYWHERE in a pickup that had " I’ll buy your Honda or Toyota for cash" We come to your home or office, guarenteed 10 minute transaction. 555-555-5555. he had that truck covered front to back. People would pull up behind him and be looking at his tailgate billboard. HE PURCHASED HUNDREDS OF CARS THIS WAY.
There you have it! ASK AND THEY WILL COME. The secrets out! Find great deals and the buyers will beat a path to your door. I’ve been in this business for over 20 years. If you buy cheap, you can sell at a great price to the buyer and that creates LOTS of interest. Wholesale, retail, flip, fix, rent, do what you want. If you steal 'em, selling 'em ain’t a problem.
And this is where new guys screw up. Be patient, talk to people about houses they paid too much for. You will see it in their eyes, the regret, don’t make that mistake, ESPECIALLY NOW! Look, look, look, make offer after offer, you will find great deals. DO NOT FORCE IT.
Get the courses off of ebay. You can usually get them at 10% of the price and you are getting the same information you would get at a boot camp. A boot camp will not teach you everything you need to know and get you out there, but they are good educational tools.
There is no SECRET to investing as there is no SECRET to any job you do. Education is very important part of any business though.