That’s the number I come up with if I pay for all the seminars listed under the “Product Catalog” section listed on the reiclub website. If I include all the Real Estate Courses, that number doubles by $14,237. Ouch! Does real-estate really cost this much to learn it all?
No, it doesn’t cost $14K. When I first started, I completed the Carleton Sheets Course (about $300) and then bought my first rental. You can also learn a LOT (almost for free) by joining your local REIA.
Good Luck,
Mike
It depends on your comfort level, your current knowledge, and risk tolerance. If I sum up all the money I spent on education over the last two years, it would probably be double that easily. I do it however, because I love this stuff not because I need it.
Hit ebay and get good deal on a course, then decide from there.
Only way to really learn, is by doing. I’m gald I never spent a dime on a course. Join your local REI and start asking questions. These are people doing it, not just hocking a course.
Brockovich,
I agree with you that joining your local REIA is a great way to learn (as is participating in this forum). However, spending money on education is also a wise investment if it actually helps you make money. I haven’t spent much money on courses either, but the money I have spent was well worth it. For example, I spent about $800 on Donna Bauer’s notebuyer course and within 3 weeks of buying the course made $26,000 with 2 notes. I couldn’t have done that without the information in her extensive course. I also spent about $500 on Pat Tarr’s asset protection course. That has saved me thousands of dollars in legal fees and 2 prevented lawsuits.
Mike
Education is important -but it is like a college education - you don’t take every course the University offers - you take what you need.
Over the years I’ve bought about $1,500 in courses. from each I have learned valuable information. But I bought my first property without spending a penny on education, and did well on it. I have also learned a lot just reading free articles and the like.
I spend a lot of time on forums like this - even though I am not currently active in RE - because I learn on here also. So when I get back “in the game” in a couple of years my knowledge level will still be high.
Education is very important and it will make you lots of money - but you don’t have to break the bank.
I’ve spent probably up to 10 000$ on courses over my career.
Pretty cheap investment since my first deal was an expensive 14 000$ learning experience.
I also fully intend to spend even more as I progress upwards. The more experienced I am, the easier it seems to be to implement the teachings from the courses.
I think education is important also, but man, these courses are EXPENSIVE. Its hard to know whether one or another is good value or not also.
A lot of the information that you will need to become a good investor can be acquired by talking to people and reading books. Some of the best education that I have received came from an occasional $20 book or on this website or other websites like this one. I believe that it largely depends upon how driven you are, and how organized you are about planning and executing your investment strategies. Sometimes a seminar or an instructional package provides a fast, easy way to discover things that you might not find elsewhere. I believe that new real estate investors should start small and start smart, but I think a lot can be learned from getting started. Your first deal is probably not going to be perfect, but learning to invest in real estate by reading books is like learning how to juggle or swim by reading books. Practicing with actual deals is a must for the learning process.
Re: Does learning about real-estate really cost at least $14,233??
It can or it doesn’t have to…how fast do you want it? how patient are you? how willing are you to try on your own? do you have an extra 14 grand that’s disposable or will you be dipping into a savings account?
I would recommend starting at your local REIA meeting and at the library and on this website (as well as others). And if you decide that real estate is something you would like to get into, then do a lot of research before spending THOUSANDS of dollars.
For $10,000 cash I’ll fly out to you and walk you through my business plan step by step.
Will that make you successful??? Maybe, maybe not. It’s what YOU do with YOUR information that determines success in any business.
I have a guy who has been talking about getting into real estate for 5 years. I’ve offered to be his bank if he finds a deal and walk him through the entire process. NO MONEY NEEDED. We split profits 50/50.
Still has not gotten off his *ss and found a property. He never will.
Here’s what I tell all new guy’s. Find a house that is worth $100K (or incert your number) that you can buy for $50K and putting a deal together will be as hard as giving away money. The first one you do is “The ONE” you’ll remember every detail of that transaction. Find those deals and LOCK them up. Then you pass some savings on to the next guy and MOVE ON!!!
FIND THE DEAL
FIND THE DEAL
FIND THE DEAL
THE MONEY WILL FOLLOW.
I’ll give you $1,200 and a case of beer jake!
I agree with everybody that said to go to your local rei meeting and listen and learn from the successful investors there, you’ll know who they are. Steer clear of the windbags that are full of crap, you’ll know who they are too.
Read, educate yourself and then do something about it! I learned the basics from a few books, a few sites, a few people. I learned A TON from real life experience. My two cents…
For you Jared, I’d do it just for the beer!!
By the way… GREAT web site!! Telling people your stories warts and all is THE BEST way to teach anything.
Great job.
How do you get started in real estate investing when you have no money, no experience, and dont want to spend alot of money on someones course, or go to someones college(I.E. Nouveau Riche)?
Read. Then when your done with that read some more. Go to your local reia meeting and listen. Then go home and read. Spend a lot of time on this site reading, lots of smart people here. Then after that read. :biggrin
You could start by reading this whole thread.
Hey guys, I know this is off topic but… do you get a prize when you reach 500 posts? I am ALMOST THERE!!! :smile