Well I am a college student and new at real estate investing. My college teaches both Appraisal and Home Inspection classes, and I was wondering if it would be better to take these classes offered from my school or invest in a home study course that was actually made from a real estate investor? I would imagine the one made from the Investor is probably better.
Also there is this book called “How To Analyze Your Market and Your Deal” its by Tim Randle. I am really wanting to get this book, or do you think an Economics class teaching supply and demand would be just fine?
I believe in learning at least a little bit about something before diving right in.
Please do not try and talk me out of these choices, just if at all possible give me some insight on which route I should go. Thanks for your help.
Take the classes on appraisal and home inspection from the college. It will be just as good, if not better, plus you have the benefit of having a real live teacher to answer your questions. Definitely better.
An economics class teaching supply and demand will NOT teach you how to analyze your market and definitely not teach you how to analyze your deal. If you’re interested in that, buy the book.
Well I won’t try to talk you out of any choices but I will provide my humble opinion. Appraisers and home inspectors are NOT investors. Those are employments (no different from being a doctor or electrician). If you want to be an appraiser/home inspector and invest on the side, take the course. That knowledge will only help your real estate endeavors. You don’t need to take those courses to be a rei though.
I’m also in college and my only advice is to be prepared to abandon that knowledge. You don’t need great credit, brains or money if you’re willing to think creatively and actually go out there and do deals. If you want to get into real estate investing, learn from the real estate investors (not economists). There are several reputable products on this site and the forums are a big help so read through them.
thank you both for your comments. I appreciate the help.
I think that it would be a good opportunity for you to learn. When I took Real Estate classes 20 years ago in college the appraisal class was taught by an active appraiser. They didn’t have a home inspection class back then but I feel the home inspection class will help you evaluate potential properties on profitability before you start buying. Another advantage is that you will begin to network with other individuals about real estate and getting good buys is about networking.
They deffinately did not teach you how to make money. Some of the best teachers on this subject been coming the different people submitting information in these forums.
In my opinion, the appraisal and home inspection courses would provide good knowledge to have. While it may not be your chosen profession, it IS something that is pertinent to the industry. Having that knowledge will allow you to better evaluate a deal.
As for the economics class, I would not waste the time. Without dealing in the current and ever-changing economy on a regular basis, I don’t see how a teacher can be of benefit. Yes, I know the classes are more for general information, but that information is primarily common sense. Let the real world teach you about the economy.
3¢ (gotta compensate for inflation ;D)
I would think an appraisal class would be VERY helpful in determining the true value of a potential deal.